By Nigerian authorities have released Tigran Gambaryan, Binance’s head of financial crime compliance, after eight months in custody, dropping money laundering charges on what officials cited as health and diplomatic grounds.
White House National Security Adviser Jake Sullivan announced Thursday that Gambaryan was returning to the United States for medical treatment following his humanitarian release. “I am grateful to my Nigerian colleagues and partners for the productive discussions that have resulted in this step,” Sullivan said, confirming he had personally informed Gambaryan’s wife of the development.
The case, which began with Gambaryan’s February arrest during a business trip to Nigeria, had sparked controversy over allegations of illegal detention and alleged bribe demands by Nigerian officials. Gambaryan was detained alongside Nadeem Anjarwalla, Binance’s regional manager for Africa, who later fled custody and remains at large.
Nigerian authorities had accused Binance, the world’s largest cryptocurrency exchange, of facilitating up to $35 million in money laundering and manipulating the local naira currency. The charges emerged as Nigeria, Africa’s largest cryptocurrency market, grappled with currency instability and rising inflation, leading many citizens to seek financial refuge in digital currencies.
R.U. Adaba, prosecutor for Nigeria’s Economic and Financial Crimes Commission, announced the case’s termination Wednesday at Abuja’s Federal High Court, citing “critical international and diplomatic reasons.” However, Binance still faces separate charges related to tax evasion and operating without required licenses.
Gambaryan’s detention conditions drew international scrutiny after two failed bail attempts, with a judge deeming him a flight risk and ordering his confinement in Abuja’s Kuje prison. His health reportedly deteriorated during the prolonged legal proceedings.
While Nigerian officials denied allegations of soliciting bribes for Gambaryan’s release and defended the prosecution’s legitimacy, the case highlighted tensions between cryptocurrency operations and regulatory oversight in Africa’s largest economy.
