A Federal High Court in Abuja has scheduled March 20, 2025, to hear a case filed by Binance executive Tigran Gambaryan against Nigeria’s National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC). Gambaryan claims he was unlawfully detained in Nigeria and is seeking compensation for the hardship he endured.
The case stems from Nigeria’s crackdown on cryptocurrency platforms in early 2024 when the government accused Binance of manipulating foreign exchange rates. Gambaryan and another Binance executive, Nadeem Anjarwalla, traveled to Nigeria for discussions with officials but were detained. Anjarwalla later escaped, while Gambaryan remained in custody. His legal team argues that he was merely an employee, not a decision-maker at Binance, and that authorities used him as leverage. Meanwhile, the EFCC and the Federal Inland Revenue Service (FIRS) filed charges against Binance and its executives for tax evasion, money laundering, and forex violations.
Over the months, Gambaryan’s health deteriorated, and in October 2024, a judge dropped the money laundering charges against him. The EFCC even acknowledged his poor condition. However, Binance’s legal troubles continue, and Gambaryan is now suing the Nigerian authorities for wrongful detention, claiming he was held illegally before and after a court order expired.
The NSA and EFCC argue that they acted within the law and have requested more time to present additional evidence. The court has granted this request, with the next hearing set for March 20, 2025.
Read the full news here: TechPoint Africa