President Biden Asked To Secure Release of Binance Executives Arrested In Nigeria

US Group has asked President Biden to secure the release of Binance Executives arrested in Nigeria.

 

NewsOnline Nigeria reports that the United States Chamber of Digital Commerce has called on President Biden to employ every diplomatic measure to secure the release of two Binance officials detained by Nigerian authorities calling the detention a “distressing breach of international law”.  

 

This Nigeria news platform understands that the U.S. Chamber expressed its concerns via a blog entry on its website, advocating for immediate diplomatic efforts to rectify what it views as a grave unfairness describing Nigeria’s actions as “state-sponsored kidnap” 

 

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The blog highlights the arrest of Gambaryan under dubious conditions as setting a dangerous precedent, indicating that American businesspeople overseas, particularly in the cryptocurrency sector, are at risk of facing similar illegitimate treatment by international governments. 

 

The group alleged that the detention of the officials is geared towards coercing Binance to cough out a $10 billion fine which in hindsight is a ramson.  

 

The group said, “In a distressing breach of international law, U.S. citizen Tigran Gambaryan has been unjustly detained by the Nigerian government. Employed by Binance as the head of their criminal investigations team, Mr. Gambaryan appears to have been invited to Nigeria under false pretences, only to be arrested on February 26, 2024, without any charges or clear explanation, except for his current employment for Binance.

 

“This incident demands a robust response from the United States. We call upon President Biden and the U.S. government to employ every diplomatic measure to ensure Mr. Gambaryan’s immediate release.  

 

“The unwarranted detention of Tigran Gambaryan is more than a legal issue; it is a matter of national dignity and the protection of American citizens worldwide. We stand in solidarity with Mr. Gambaryan and his family during this trying time and urge swift action to rectify this grave injustice.” 

 

Recall that about two weeks prior, NewsOnline Nigeria covered the arrest of two Binance executives by Nigerian officials, who accused them of engaging in foreign exchange trading malpractices and speculation. 

 

These executives, one British and the other American were in Nigeria to address problems that led to the regulatory actions against their cryptocurrency trading platform.

 

Previously, Nigerian law enforcement and financial regulators had accused Binance of aiding the illegal transfer of money and manipulating the naira’s valuation.