Former IRS Agent and Binance Executive Released from Nigerian Custody After 8-Month Ordeal

Nigeria has dropped all money laundering charges against Tigran Gambaryan, Binance’s head of financial crime compliance, citing urgent medical concerns after an eight-month detention that strained U.S.-Nigerian diplomatic relations.

Gambaryan, a former U.S. Internal Revenue Service criminal investigator, was arrested in February during a business trip to Nigeria, where he had traveled to address disputes between the cryptocurrency exchange and local authorities. His detention became increasingly controversial as his health deteriorated, with reports of malaria, double pneumonia, and a severe herniated disk requiring immediate surgery.

The decision to withdraw charges came during an unannounced court hearing in Abuja on Wednesday. R.U. Adaba, representing Nigeria’s Economic and Financial Crimes Commission (EFCC), acknowledged that “Gambaryan was merely an employee of the cryptocurrency firm and had no involvement in the alleged offenses committed by the company.”

The case had drawn significant attention from U.S. lawmakers, with 16 members of Congress urging the White House to treat it as a hostage situation. Representative French Hill, who had visited Gambaryan in prison, welcomed the news as “fantastic” on social media, emphasizing the urgency of his return home for medical treatment.

While Gambaryan’s release marks a significant development, Nigeria’s broader case against Binance continues. The government maintains its position that the cryptocurrency exchange contributed to the country’s economic crisis by enabling users to transfer funds out of the local currency, leading to its devaluation. Binance still faces tax evasion charges and a demand for $10 billion in penalties related to allegedly facilitating $26 billion in untraceable funds.

Gambaryan’s detention occurred alongside that of Nadeem Anjarwalla, Binance’s regional manager for Africa, who escaped custody in March. The incident highlighted growing tensions between cryptocurrency platforms and national regulators, particularly in emerging markets grappling with currency stability challenges.

Patrick Hillman, a former Binance executive involved in lobbying for Gambaryan’s release, expressed cautious optimism: “Until we have verification that he’s on a plane, airborne, and headed home, we’re all just clutching our shirt collars and waiting to make sure there are no other hiccups.”