Detained Binance Executive Gambaryan Sues Nigerian Authorities

According to local reports, detained Binance executive Tigran Gambaryan filed a lawsuit against Nigeria’s National Security Advisor (NSA) and the Economic and Financial Crimes Commission (EFCC) on March 28 for violating his basic human rights. 

Nigerian authorities detained Gambaryan, a US citizen overseeing the exchange’s crime investigation unit, along with Nadeem Anjarwalla, Binance’s regional manager for Africa, on Feb. 26. This occurred just a day after the two arrived in Nigeria in response to an invitation from the authorities to address ongoing disputes with the exchange.

Gambaryan appeared in a Federal High Court in the capital, Abuja, on Thursday seeking Judge Iyang Ekwo’s declaration that his detention and the confiscation of his passport by Nigerian authorities violated his “fundamental right to personal liberty.” Also, Anjarwalla, who escaped from lawful custody on March 22, filed a lawsuit separately in court. The federal government said it will seek help from Interpol to arrest Anjarwalla for trial.

Gambaryan argued that authorities did not inform him of any committed offences and asserted that his detention is unwarranted. The executive requested release, the return of the passport, and a permanent order to prevent further detention in connection with the Binance investigation. Moreover, he sought a public apology from the authorities and compensation for all legal costs. The judge adjourned the hearing to April 8 due to the absence of attorneys representing NSA and the EFCC.

Binance Woes in Nigeria

The Nigerian government alleged that Binance’s peer-to-peer (P2P) trading service for the naira had an impact on the country’s local currency. This year, the naira experienced a significant decline in value. The government has also flagged the firm for possible involvement in money laundering activities since February. According to Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN), more than $26 billion was transferred through Binance Nigeria from unknown sources last year.

In reaction, Binance sent Anjarwalla and Gambaryan to negotiate at the government’s behest and delisted the NGN P2P options. After the arrest of the two executives, the digital asset community has urged the Nigerian government to release both men, as ongoing events are affecting the crypto market.

Moreover, on March 25, the government filed four charges against the global crypto exchange for tax evasion. These include the non-payment of value-added tax, failure to file tax returns, the non-payment of company income tax and complicity in aiding customers to evade taxes through its platform.