The world’s largest cryptocurrency trade platform, Binance, has lamented the prolonged detention of its official, Tigran Gambaryan, and the rejection of his bargain plea, insisting he should be freed so that it can continue talks with the Nigerian government. 

“We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained,” Binance said in a terse statement on Friday.

It added, “Tigran has been dedicated to public service and fighting crime for most of his life.” 

The crypto trading giant insisted that the charges against Mr Gambaryan lack merit and that he should be released so that negotiations with the Nigerian government can continue. 

“These charges against him (Mr Gambaryan) are completely meritless. He should be freed while discussions continue between Binance and Nigerian government officials,” Binance said.

Mr Gambaryan is being tried by the Nigerian authorities for money laundering. 

Binance’s latest reaction followed the rejection of Mr Gambaryan’s bail plea on Friday. The Abuja Division of the Federal High Court dismissed a bail application filed by Mr Gambaryan on Friday.

Justice Emeka Nwite, in a ruling, held that based on the affidavit evidence before him, Mr Gambaryan would jump bail if the application was granted.

In February, Peoples Gazette reported the Nigerian government’s clampdown on cryptocurrency platforms and Bureau De Change operators nationwide to save the declining naira.

Amid the clampdown that saw Binance’s website blocked to its Nigerian users, the crypto trading giant subsequently disabled its P2P function and exited the Nigerian market. 

In the same month, the National Security Adviser, Nuhu Ribadu, arrested Mr Gambaryan and another Binance executive, Nadeem Anjarwalla, on an official visit to Nigeria. 

Mr Anjarwalla, Binance’s Africa regional manager, escaped from the NSA custody on March 22 and fled the country, while Mr Gambaryan remains in custody facing trial.