Binance Executive Takes Legal Action Against Nigerian Authorities for Wrongful Detention

So apparently, a top Binance executive named Tigran Gambaryan has taken legal action against some Nigerian authorities. His lawyer presented the case in Abuja and said that Gambaryan’s detention is being used to pressure Binance.

From what I understand, Gambaryan is an American citizen who works as a top executive at Binance. He has filed a suit alleging wrongful detention by the Nigerian Office of the National Security Adviser and the Economic and Financial Crimes Commission.

His lawyer, T.J. Krukrubo, went before a Federal High Court in Abuja. He revealed that Gambaryan’s continued detention is basically being used as leverage by the Nigerian government to make demands of Binance.

The documents say Gambaryan and another guy named Nadeem Anjarwalla met with some Nigerian officials on February 26th at the invitation of the NSA and EFCC. After the meeting, the Nigerian authorities detained both Gambaryan and Anjarwalla. Gambaryan has been held ever since, while Anjarwalla managed to escape.

Krukrubo emphasized that Gambaryan didn’t do anything wrong during the meeting or any other time in Nigeria. The detention seems aimed solely at pressuring Binance.

The court filing also said Binance has a history of cooperating with Nigerian law enforcement, responding to over 600 requests for info since 2020. Despite that cooperation, Gambaryan argues his detention violates his constitutional rights under Nigerian law.

He’s requesting court orders for his immediate release, a declaration that the detention broke the law, and an injunction against further detention related to Binance investigations. He also wants a public apology from the Nigerian authorities.

The judge agreed to delay the case until April 8th to give the respondents – the NSA and EFCC – time to address the allegations, since they hadn’t responded to the application yet according to Krukrubo.

This legal action comes amid increased scrutiny on crypto exchanges in Nigeria. Following accusations of influencing foreign exchange rates, the government has imposed stricter regulations. Gambaryan and Anjarwalla’s detention happened after Nigeria banned crypto channels as part of efforts to combat currency speculation. The Naira currency has also devalued significantly against the dollar recently. Read Similar Story