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Crypto Firm Breaks Silence On Binance Executive

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Binance has said that its employee, Tigran Gambaryan, who is currently held in Nigeria, is not part of the company’s management team.

The crypto exchange giant clarified that Gambaryan, an American, only serves as a law enforcement officer and does not have the power to make decisions.

The company disclosed this in a statement sent to The PUNCH on Wednesday.

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In February, Gambaryan and his colleague, Nadeem Anjarwalla from Binance Holdings Limited, were arrested in Nigeria on suspicion of involvement in money laundering activities.

Among other charges, the firm and the two employees were charged last Thursday for $35,400,000 money laundering at the Federal High Court, Abuja.

While Gambaryan remains in custody, Anjarwalla escaped and fled the country.

READ ALSO: Court Detains Nigerian Suspected ISIS Member For 60 Days

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Despite inquiries by The PUNCH regarding Anjarwalla’s whereabouts, Binance has yet to respond.

Part of Binance’s statement reads, “Tigran is a strict law enforcement professional and is not part of Binance management. While he has left the official service of the U.S. government, he has remained fully committed to the role of law enforcement officer ever since, operating as a global advocate for good governance and transparent regulatory financial practices.

“Binance respectfully requests that Tigran Gambaryan, who has no decision-making power in the company, is not held responsible while current discussions are ongoing between Binance and Nigerian government officials.”

The exchange explained that Gambaryan was hired in 2021 to help Binance fix past compliance issues.

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Binance stated that as the head of Binance’s Financial Crime Compliance team, Gambaryan has been a strong advocate for the company to develop policies and build compliance capabilities that set new industry standards.

READ ALSO: Detained Binance Executive Drags EFCC, NSA To Court

“In 2022 and 2023, Tigran’s Financial Crime Compliance team assisted global law enforcement in freezing and seizing more than $2.2b worth of assets, including more than $285m in cooperation with United States agencies like the FBI, DOJ, DEA, and others,” it said.

According to Binance, Gambaryan and his team provided multiple training sessions for Nigerian crime fighters on the role of exchanges in the digital-asset ecosystem.

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“This included a three-hour online workshop for 70 Nigerian EFCC officials in mid-2023 and, late last year, two full-day sessions for EFCC officials in Abuja and Lagos, with more than 30 investigators attending each of them,” the company noted.

The Economic and Financial Crimes Commission will arraign Binance Holdings Limited, Gambaryan, and Anjarwalla on Thursday on charges of $35,400,000 money laundering.

READ ALSO: Anambra Court Jails Two For Vandalising Electricity Cables

The EFCC, having fully taken over the case from the Office of the National Security Adviser, has detained Gambaryan and obtained a court warrant to arrest and extradite Anjarwalla, who escaped custody.

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On Monday last week, the Federal Government contacted INTERPOL and issued an arrest warrant for Anjarwalla’s arrest.

The PUNCH reported earlier that the EFCC is now partnering with the International Criminal Police Organisation, the United States Federal Bureau of Investigation, the government of the United Kingdom and Northern Ireland, and the Kenyan government to effect the arrest and extradition of Anjarwalla.

The Financial Times reported on February 28, 2024, that two executives of the company were arrested and detained after flying into the country following a ban on their website.

On March 12, 2024, the FT reported that the EFCC asked Binance to provide data on its top 100 users in Nigeria as well as all transaction history for the past six months.

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This request is currently being negotiated between Binance and Nigeria.

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Nigeria May Adopt Chinese Water Transport System

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Nigerian maritime stakeholders and authorities have concluded plans to understudy the Chinese waterways transport model with a view to perfecting Nigeria’s waterways transportation system.

In a statement, the Head of Maritime Roundtable Breakfast Meeting, MBRBM, Mrs Tosan Edodo-Emore, said that China being the largest country with the largest inland waterways is apt to teach Nigeria on how best to manage and improve water transport system.

READ ALSO: Troops Ambush Terrorists On Transit To Cause Havoc In Kaduna, Neutralize Two

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She said that the Consul General of the People’s Republic of China, Madam Yan Yuqing, is expected to share the Chinese experience with the Sino-Nigeria Maritime Relationship and lessons to be learnt from China at the summit scheduled for April 18, 2024.

According to the Edodo-Emore, the Summit themed, “Security and New Technologies in Inland Waterways Transportation”, will have some heads of maritime institutions

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NAFDAC Alerts Nigerians On Banned Soap

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The National Agency for Food and Drugs Administration and Control (NAFDAC), has drawn Nigerians’ attention to the ban on Dex Luxury Bar Soap (No 6 Mystic Flower), by European Union (EU).

The notification is contained in a public alert with No. 012/2024, signed by NAFDAC Director-General, Prof Mojisola Adeyeye, and issued to newsmen in Abuja on Sunday.

The product does not comply with the cosmetic products regulation; it also contains Butyphenyl Methylpropional (BMHCA), which is prohibited in cosmetic products due to its risk of harming the reproductive system.

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READ ALSO: NAFDAC Shuts 10 Bakeries, Eight Water Factories In Rivers

“It also causes harm to the health of unborn children and may cause skin sensitisation.

“It is as a result of the defective nature of the product that the EU banned it.

“The products is not in NAFDAC database; importers, distributors, retailers and consumers are to exercise caution and vigilance within the supply chain,” she said.

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READ ALSO: NAFDAC, PCN Raid, Seal 1,321 Patent Medicine Outlets In Kano

Adeyeye called on marketers and consumers to avoid the importation, distribution, sale and use of the product, saying that product’s authenticity and physical condition must be carefully checked.

She called on members of the public in possession of the product to discontinue sale or use, and submit stock to the nearest NAFDAC office.

The NAFDAC boss advised healthcare professionals and consumers to report any suspicion of adverse reaction or substandard and falsified regulated products to the nearest NAFDAC office on 0800-162-3322 or via email: sf.alert@nafdac.gov.ng.

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She also encouraged healthcare professionals and patients to report adverse events or side effects related to the use of the product, to the nearest NAFDAC office.

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Troops Ambush Terrorists On Transit To Cause Havoc In Kaduna, Neutralize Two

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Troops of the Nigerian Army have neutralized two terrorists and recovered arms in Giwa Local Government Area of Kaduna State.

Director Army Public Relations, Major General Onyema Nwachukwu, who made this known in a statement on Sunday, April 14, 2024, said the terrorists were on transit to cause havoc in the area.

Nigerian Army troops deployed for Counter- terrorism Counter-insurgency operations in the North West on Saturday 13 April 2024 successfully ambushed and neutralized two terrorists transiting with arms in Kaduna,” the statement read.

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READ ALSO: Police Nab Man Who Killed 100-year-old Mum Over Palm Oil Proceeds

The operation, which took place in Rafin Sariki Village of Giwa Local Government Area, was a prompt response to actionable intelligence on the presence of terrorists transiting with a sack containing weapons.

“The troops laid in ambush for the terrorists and engaged them in a gun battle, that neutralized two of the terrorists. The gallant troops also recovered one AK-47 rifle, 52 rounds of 7.62mm special ammunition, and one locally fabricated revolver frame.

“The Nigerian Army remains committed to ensuring the safety and security of the citizenry and the nation in general.

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“The NA will thus, continue to take decisive actions against terrorists activities in the region.”

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