American Binance exec 'held hostage' in Nigeria less than an hour away from Prince Harry and Meghan's 'royal' tour - as officials demand '$150M crypto bribe' amid collapse of country's currency

An American Binance executive is being 'held hostage' in Nigeria amid claims his company was asked for a $150 million crypto bribe.

Compliance officer Tigran Gambaryan has been detained in the country for more than 70 days charged with tax evasion and money laundering.

His colleague Nadeem Anjarwalla was charged alongside him and the company, but managed to escape using a smuggled passport before he could be incarcerated.

Gambaryan is a former federal financial regulatory agent who is currently being held in Kuje prison located just an hour away from where Prince Harry and Meghan Markle began their 72-hour tour of Nigeria.

Gambaryan was detained in February after flying to the country to discuss compliance with Nigeria's SEC. 

American Binance executive Tigran Gambaryan (pictured) is being 'held hostage' in Nigeria amid claims his company was asked for a $150 million crypto bribe to release him

Gambaryan has been detained in the country for more than 70 days charged with tax evasion and money laundering. Pictured: Gambaryan in his last video before he was jailed

His colleague Nadeem Anjarwalla (pictured) was charged alongside him and the company, but managed to escape using a smuggled passport before he could be incarcerated.

Tensions have flared between the platform and Nigerian officials amid the collapse of the country's currency, the Naira, which lawmakers believe to be partly due to trading on Binance.

The company's representatives were ordered to appear before the Nigerian House of Representatives to explain their activities.

Gambaryan flew to meet them on January 8, but the meeting soon turned combative with Binance accused of a host of tax violations. 

At the conclusion of that meeting, Gambaryan was approached 'by unknown persons' who suggested, 'a significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away.

Sources told the New York Times the demand was equivalent to $150 million. 

Binance said it rejected the proposition, 'not viewing it to be a legitimate settlement offer'.

The exchange provided the context for the February meeting when Gambaryan returned to Nigeria for a second time to try and iron out the exact nature of the accusations.

Gambaryan, pictured ion court in April, was detained in February after flying to the country to discuss compliance with Nigeria's SEC

Tensions have flared between the platform and Nigerian officials amid the collapse of the country's currency, the Naira, which lawmakers believe to be partly due to trading on Binance. Pictured: High court in Abuja, Nigeria

Binance CEO Richard Teng has slammed the detention of his employee who he insisted is 'innocent'

While the meeting initially progressed well, relations broke down after a separate set of officials entered the discussions and demanded granular information about its Nigerian users which the company was unwilling to meet.

'The next 24 hours were marked by aggressive behavior towards Tigran and Nadeem where they were accused personally of holding responsibility for the state of the naira and the overall economy, and allegations of terrorist financing and money laundering,' Binance CEO Richard Teng said. 

Binance said its execs were given assurances of safe passage, but this turned out to be false.

Following the meeting, Gambaryan and Anjarwalla were moved to a secure compound where their passports were confiscated.

'To invite a company's mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide,' Teng added.

After he was detained, the US Embassy was sent a note from Nigerian officials insisting that he was not being imprisoned. 

'It is important to emphasize that Mr. Tigran is currently having a discussion with our team and the intent of his stay is purely for the purpose of constructive dialogue,' the letter seen by the New York Times said. 'We assure you that the individual is participating willingly.' 

However, Gambaryan was then transferred to Kuje prison where he remains pending a court date of May 17. 

Gambaryan is a financial compliance officer for Binance who used to work for the federal government

Gambaryan is being held in Kuje prison (pictured) where he remains pending a court date of May 17

The prison is one of the country's largest and was the center of a violent jail break by Boko Haram terrorists in 2022

The prison is one of the country's largest and was the center of a violent jail break by Boko Haram terrorists in 2022.

Meanwhile, just 28 miles away Harry and Meghan kicked off their tour of Nigeria at Wuse Lightway Academy which is supported by their Archewell Foundation.

Teng explained in a lengthy blog post how his platform had been trying to engage with the SEC for several years amid the boom in cryptocurrency in Nigeria.

In 2023, Nigerian officials issued a warning against trading with Binance, leading the company to pull all advertising in the country which began tensions between both sides.

'The message from the Nigerian government is clear, we must detain an innocent, mid-level employee and a former U.S. federal agent, and place him in a dangerous prison in order to control Binance,' Teng said.

The incident is the latest hurdle for Binance, which agreed to a $4.3 billion fine last year to settle charges by the U.S. government that enabled criminal activity on its platform. 

Binance's founder Changpeng Zhao was additionally sentenced to four months in prison for his part in the infractions.

Nigeria's national security adviser maintains the charges against the platform are legitimate.

'We are confident that Nigeria has a good case,' spokesman Zakari Mijinyawa said.

The incident is the latest hurdle for Binance, which agreed to a $4.3 billion fine last year to settle charges by the U.S. government that enabled criminal activity on its platform. Founder Changpeng Zhao (pictured) was sentenced to four months in jail

Gambaryan's detention came amid flaring tensions between Binance and Nigerian officials who had ordered a crackdown on its operations in the country

He added the Nigerian government would be making its case, 'on the strength of the facts and evidence, in accordance with due process.' 

'Binance equally will have every opportunity under the rule of law to make its case and see justice delivered,' he added.

Mijinyawa confirmed to Al-Jazeera that those responsible for Anjarwalla's escape from custody have also been arrested. 

In a final video before his phone was confiscated, Gambaryan is seen begging for help from the US government and pleading with Nigerian officials to let him go. 

DailyMail.com has contacted Binance and Nigeria's national security adviser for comment.