- Tigran Gambaryan has been detained in Nigeria for six months over alleged financial crimes linked to Binance operations.
- His family reports worsening health conditions, including severe pain and lack of adequate medical care.
- Despite legal challenges, Nigeria’s SEC plans to regulate and license cryptocurrency exchanges soon.
Tigran Gambaryan, a Binance executive detained in Nigeria on charges of financial crimes, is reportedly facing severe health issues due to inadequate medical care in detention. Gambaryan has been held for six months under accusations including money laundering, currency speculation, and tax evasion.
Health Concerns Amid Detention
Gambaryan’s health has significantly deteriorated, according to his family. He suffers from a herniated disc and a spinal injury, which have led to mobility issues. Despite his condition requiring him to take blood thinners to prevent blood clots, he has reportedly been denied access to a wheelchair. This has prevented him from attending necessary medical appointments and even visiting the United States embassy for potential support.
The family has also raised concerns about Gambaryan’s access to legal representation, stating that Nigerian authorities prevented his legal team from visiting him for nearly three weeks. Although a brief meeting was eventually granted, it lasted only five minutes, insufficient for meaningful legal consultation.
Legal and Medical Ordeals
Further complicating his detention, Gambaryan has developed severe tonsillitis, attributed to untreated malaria and pneumonia, with doctors recommending surgical removal of his tonsils. However, his ongoing medical needs have been largely unmet within the detention facility.
The situation escalated when the Nigerian government initially invited Gambaryan to a meeting, only to confiscate his passport and later charge him with multiple financial crimes. His family claims that the Nigerian authorities’ refusal to provide necessary medical care or share his medical records with his legal team or the U.S. embassy prompted a judge to issue a bench warrant for the arrest of the prison doctor responsible.
Regulatory Moves Amidst Controversy
Amidst these personal and legal battles, Nigeria’s Securities and Exchange Commission (SEC) is moving forward with plans to regulate and license cryptocurrency exchanges. SEC Director-General Emomotimi Agama expressed optimism about the future of cryptocurrency regulation in Nigeria, suggesting that licensing could occur sooner than anticipated. This regulatory shift comes as Nigeria continues to position itself as a rapidly growing crypto economy despite the ongoing controversies surrounding its treatment of crypto executives like Gambaryan.
