EX-BINANCE CHIEF, GAMBARYAN LOOSES CASE AGAINST EFCC, NSA
Read Time:2 Minute, 14 Second
BY JENN NOMAMIUKOR
A federal high court in Abuja has rejected a lawsuit filed by Tigran Gambaryan, who used to work for Binance.
The person who filed the case claimed he was held without proper reason by the National Security Adviser’s office and the Economic and Financial Crimes Commission in 2024.
On Thursday, Judge Mohammed Umar said the lawsuit was not properly justified and that the National Security Adviser was doing what the law allows.
He also said that courts cannot stop official agencies from doing their jobs as long as they are following the law.
Gambaryan, who was in charge of financial crime compliance at Binance, brought the case through his lawyer, Tonye Krukrubo, under the case number FHC/ABJ/CS/356/2024.
He said he was held unfairly and for too long, saying the government was using him “as a way to keep making demands on Binance.” He claimed he came to Nigeria on February 26, 2024, with his colleague Nadeem Anjarwalla to accept an invitation from officials of the NSA and EFCC, but he was arrested even though he wasn’t a director of the cryptocurrency company.
Anjarwalla managed to get out of police control and left the country.
Krukrubo asked the court to declare the detention periods — February 26 to 27; and March 12 to April 8, 2024 — unlawful, and to order an apology and damages.
Lawyers from the NSA and EFCC asked the court to throw out the case, saying it was an attempt to weaken a current criminal investigation. The case, marked FHC/ABJ/CR/138/2024, is being handled by Judge Emeka Nwite in the federal high court and involves claims that Binance Holdings Ltd. broke laws related to money laundering and foreign currency violations.
Olanrewaju Adeola, who represents the EFCC, told the court that there was a proper order to send the case back during the time in question.
He also mentioned that Gambaryan had already appeared before Judge Nwite, who denied his request for bail because he was seen as a risk of fleeing.
In his ruling, Umar said the court would not step in to stop Nigerian authorities from doing their job in prosecuting the case, especially since there are ongoing investigations into money laundering and foreign exchange violations.
He noted that Binance faces pending criminal charges filed earlier in the year, and that the affidavits before the court established that the NSA acted on intelligence reports concerning alleged illicit financial activities linked to the platform.
Umar added that while fundamental rights are guaranteed, they are not absolute and may be curtailed in circumstances involving national security or ongoing criminal investigations.
The suit was then thrown out.
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