A State Department spokesperson has confirmed to Federal Newswire that the Department is monitoring the case of Tigran Gambaryan, an American citizen and former federal agent detained in Nigeria since February 26 and are providing all appropriate assistance. The spokesperson’s comments were provided May 15 following Deputy Secretary Kurt Campell’s meeting in Washington, D.C. with Nigerian Foreign Minister Yusuf Tuggar.
In response to a Federal Newswire inquiry whether the U.S. raised Gambaryan’s detention during the meeting with the Nigerians, the State Department spokesperson emphasized that the safety and security of U.S. citizens abroad is their highest priority. The source confirmed ongoing communication and assistance for Tigran Gambaryan, his family, and his legal team.
Tigran Gambaryan, a former U.S. law enforcement officer and compliance officer for Binance, traveled to Nigeria in late February for meetings meant to smooth over a dispute between the Nigerian government and the cryptocurrency exchange. He was detained by Nigerian authorities on February 26 along with a colleague after discussions with government officials turned hostile. Initially held without charges, they were later accused of tax evasion and money laundering. While his colleague managed to escape, Gambaryan was transferred to Kuje prison in Abuja and faces ongoing legal challenges. Prior to his detention, Gambaryan and his colleagues were allegedly solicited for a $150 million bribe by Nigerian officials, according to the New York Times.
Federal Newswire previously reported that Gambaryan’s detention in Nigeria has been described by his lawyer as a "state-sanctioned hostage-taking" due to his connection with cryptocurrency exchange Binance and the Nigerian government’s attempts to leverage money from the company.
U.S. Deputy Secretary of State Kurt Campbell and Nigerian Foreign Minister Yusuf Tuggar met in Washington on May 14, 2024. According to a State Department read-out of the meeting, they advanced mutual economic, governance, and security goals, reinforcing their commitment to strengthen the partnership between the two nations for a prosperous future.
In fiscal year 2022, the United States government provided Nigeria with nearly $1.2 billion in foreign assistance resources to support economic development and other priorities, according to a January 2024 State Department fact sheet.
CoinTelegraph has reported that the detention of Gambaryan and allegations of extortion attempts on Binance by Nigerian officials may discourage foreign investment. SBM Intelligence highlights the risk, noting that perceptions of corruption can undermine the rule of law and economic stability. Additionally, the Nigerian government's skepticism towards cryptocurrency contrasts with increasing acceptance among the Nigerian public.
Gambaryan served as a U.S. federal agent for ten years, according to a post from Binance. As part of the U.S. Treasury Department’s IRS Criminal Investigations (IRS-CI) unit, he led several multi-billion dollar investigations, including those related to Silk Road corruption. After joining Binance in 2021, Gambaryan's team has assisted law enforcement agencies globally in freezing and seizing more than $2.2 billion worth of assets linked to illicit activities.
