The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) is responsible for representing the nation’s blockchain sector. They have raised concerns about the nation’s international reputation and have called for a resolution that promotes trust and confidence in the industry. The group advocates for an approach that encourages collaboration with global partners and stakeholders. They have warned that continued delays in resolving the matter could harm the nation’s blockchain industry.
Additionally, they stress that the situation could lead to a withdrawal of support from international partners, leaving local regulators and law enforcement without necessary tools and expertise. BICCoN is concerned that this situation might hinder Nigerian authorities’ ability to combat financial crimes and ensure a secure environment for all stakeholders. They emphasized the importance of continued access to advanced tools and resources provided by international blockchain entities and acknowledged that the detention of Gambaryan undermines potential collaborative efforts. The group recommends constructive dialogue with Binance and other relevant stakeholders to work towards a mutually beneficial solution.
They also stress the importance of transparent, fair processes adhering to international best practices. BICCoN concluded that a balanced approach could help resolve the recent issues fairly while maintaining relations that would support Nigeria’s blockchain sector. Gambaryan and Binance regional manager Nadeem Anjarwalla were detained on Feb. 26 while in Nigeria to assist Binance’s defense against tax evasion and money laundering charges. Despite the escalating situation, Nigerian regulators have not been very responsive.