Tigran Gambaryan, a high-ranking official at Binance, has decided to take legal steps against the Office of the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC) in Nigeria.
As per a report by Reuters, Gambaryan, who is an American citizen, has filed a lawsuit asserting that he was wrongfully detained by Nigerian authorities.
Unjust Detention and Court Orders
Gambaryan’s attorney, T.J. Krukrubo SAN, brought the case before the Federal High Court in Abuja, stating that the Nigerian government is using Gambaryan’s detention as leverage to make demands from Binance.
According to details from the case, Gambaryan, along with Nadeem Anjarwalla, participated in a meeting with Nigerian officials on February 26, 2024, at the invitation of Saad Abubakar from the NSA and Olalekan Ogunjobi from the EFCC.
Following the meeting, both Gambaryan and Anjarwalla were detained by Nigerian authorities. While Gambaryan has remained in custody, Anjarwalla was able to escape.
Krukrubo stressed that Gambaryan had not committed any offense during the meeting or at any other time in Nigeria. The detention seems to be a tactic to pressure Binance to comply with government demands.
According to court documents, Gambaryan argues that Binance has been cooperative with Nigerian law enforcement, responding to over 600 information requests since 2020, resulting in significant seizures and recoveries. Despite this cooperation, Gambaryan claims that his continuous detention violates his fundamental rights as per the Nigerian Constitution.
In his pursuit of justice, Gambaryan has asked for various orders from the court, including a declaration that his detention breaches constitutional provisions on personal liberty, an immediate release from custody, and a permanent injunction against further detention connected to Binance investigations. Additionally, he has demanded a public apology from the Nigerian authorities.
During the court session, Krukrubo informed Justice Inyang Ekwo that the respondents, NSA and EFCC, had not yet responded to the application. Consequently, the judge decided to postpone the case to April 8, giving the respondents time to address the accusations.
Nigerian Crypto Crackdown
This legal move comes at a time of increased scrutiny on cryptocurrency exchanges in Nigeria. Following allegations of influencing foreign exchange rates, the Nigerian government has imposed stricter regulations on crypto trading platforms.
The detention of Gambaryan and Anjarwalla occurred shortly after Nigerian authorities banned cryptocurrency channels as part of measures to combat currency speculation.
This situation has led to heightened economic difficulties in Nigeria, with the Naira experiencing significant devaluation against the dollar. The scarcity of dollars locally has added to the economic challenges faced by the country.
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