- Binance’s head of financial crime compliance, Tigran Gambaryan, has revealed that he almost died twice while in captivity in Nigeria
- Gambaryan was detained for eight months last year following his arrest on financial crime charges
- The former Inland Revenue Service investigator has suggested that his detention was a tactic by Nigerian authorities to extract concessions from Binance
Binance executive Tigran Gambaryan has broken his silence over his eight-month ordeal in detention in Nigeria, describing how he thought he was “going to die in there—twice.” Gambaryan told the audience at Chainalysis’ Links 2025 conference in New York about the extreme conditions and lack of medical care he endured, as well as the impact that the escape by his colleague, Nadeem Anjarwalla, had on him. The American has since issued a plea to the Trump administration to resume his old post investigating financial crimes, seemingly in a bid to leave Binance and its connotations behind him.
Detention and Deterioration
In February 2024, Gambaryan traveled to Abuja for what was intended to be a brief meeting with Nigerian officials concerning Binance’s operations. Instead, he and Nadeem Anjarwalla, the Binance Africa manager, were detained on allegations of money laundering and tax evasion, with outsiders viewing this as a tactic to get Binance to the negotiating table.
During his imprisonment, Gambaryan suffered from malaria, pneumonia, and a herniated disc, recounting that he “almost died twice,” such was the non-existent state of the medical facilities and care shown to him.
Anjarwalla’s Escape
While both men were held in a government-secured residence, Anjarwalla pulled off a daring escape. Exploiting lax security, he attended a prayer service during Ramadan and did not return, with Gambaryan later discovering that Anjarwalla had deployed the classic teenager’s decoy – his socks, sticking out of the end of his bed, were stuffed with pillows and a water bottle. Gambaryan later realized that his colleague had fled using a concealed British passport.
Gambaryan has since claimed that Anjarwalla’s escape led to him being moved to an underground cell in Kuje Prison, a facility that also housed terrorists and violent convicts, which he described vividly:
Imagine the worst place possible. No running water, no air conditioning, no showers.
Reflecting on Anjarwalla’s escape, Gambaryan remarked wryly, “I would have appreciated a heads up” over the latter’s attempt. No doubt this year’s Binance Christmas party will be an interesting affair.
Allegations of Leverage
Gambaryan told his interviewer that his detention was a strategic move by Nigerian authorities to pressure Binance into capitulating over its allegations. They blamed the company for destabilising its fiat currency, the naira, which lost more than 90% of its value in early 2024, alleging that citizens were flocking to the platform to exchange their money for the far more lucrative U.S. dollar. “Anybody who knows me or my prior job knows how ridiculous that is,” Gambaryan stated, adding, “They saw me as an asset they could use to get their billions out of Binance.”
Gambaryan was finally released on health grounds in October, but Binance is still under investigation, and looks set to be hit with charges that could see it forced to hand over more than $80 million.
