Apr 18 24

Binance working closely with Nigeria authorities to resolve exec's detention, CEO says

reuters.com/world/africa/binance-working-closely-with-nigeria-authorities-resolve-execs-detention-ceo-2024-04-18/

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Binance Faces Nigeria Detentions and Dubai License

Court adjourned to May 2; executives accused of laundering more than $35 million.

Key FactsApr 18, 2024 · Reading time: ~45 sec.
Summary created with AI assistance · Source: reuters.com

Binance is working closely with Nigerian authorities following the detention of its head of financial crime compliance, Tigran Gambaryan.

A Nigerian court adjourned the case against Gambaryan and another executive until May 2 amid allegations of laundering over $35 million.

Nigeria's tax agency has separately charged Binance and the executives with tax evasion, with that case due to appear in court on Friday.

Binance obtained a VARA licence in Dubai to serve retail clients as well as institutional ones, while leaders declined to comment on reports about voting-control changes.

What I can say is we are working very closely with the Nigerian authorities to try to resolve the matter.
— Richard Teng, Binance CEO, speaking about Gambaryan's case at the Token2049 crypto conference in Dubai

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