Nigeria Drops Charges Against Detained Binance Executive
TLDR
- Nigerian government drops charges against Binance's head of financial crime compliance,Tigran Gambaryan, due to health reasons.
- Gambaryan's lawyer's acquittal request denied despite discontinuation of the case.
- Gambaryan, an American citizen and former IRS agent, held at Kuje correctional center in Abuja since April.
The Nigerian government has dropped charges against Tigran Gambaryan, Binance’s head of financial crime compliance, who had been on trial since February on allegations of money laundering and currency manipulation.
The case was discontinued due to Gambaryan’s deteriorating health, though his lawyer’s request for an acquittal was denied, according to sources familiar with the decision cited by Bloomberg.
Gambaryan, an American citizen and former U.S. Internal Revenue Service agent, has been held at the Kuje correctional center in Abuja since April. His bail appeal, citing health issues related to a herniated disk, was rejected earlier in October.
You can follow Daba’s reporting on Africa on WhatsApp. Sign up here
Key Takeaways
Nigerian authorities detained Gambaryan and a colleague—who later escaped—during a visit in February, sparking a public conflict between Nigeria and Binance, the world’s largest cryptocurrency exchange. Binance has defended Gambaryan, asserting that his visit to Nigeria was not in a decision-making capacity. The company’s CEO, Richard Teng, further alleged that Nigerian authorities had requested a secret payment to resolve the matter, a claim Nigeria denies, calling it an attempt to divert attention from Binance’s activities.
Think someone else should see this?
To invest in this opportunity and other opportunities across Africa
Download the daba finance app on your mobile through
Take action.
Download app
Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.
Partner with us
Unlock exciting business opportunities and growth potential.
Join Daba
Become a part of our vibrant community and enjoy exclusive benefits.
Contact us
Reach out to us for inquiries, support, or collaboration.