Binance Exchange and its detained American executive face additional charges in Nigeria

 

Binance :

Exchange and its detained American

executive face additional charges in Nigeria

With more charges being leveled against Binance by Nigerian authorities

the exchange issued a statement urging regulatory bodies to

release Tigran Gambaryan, the detained American executive.

Global cryptocurrency :

exchange Binance continues to face further troubles in Nigeria as

its American executive, Tigran Gambaryan, remains detained in the country.

Nigeria has brought forth additional charges against Binance despite

the exchange's attempts to negotiate with local :

1. regulatory authorities
2. as reported by The Wall
3. Street Journal on April 3.

Binance has actively engaged with authorities in Nigeria since local regulatory

bodies accused the exchange of contributing to the collapse of

the Nigerian currency, the Naira, in February 2024.

Bayo Onanuga, the Presidential Adviser on Information and Strategy

proposed banning platforms like Binance in the country.

Binance :

responded urgently to the ban threat by withdrawing

all Naira transfers and halting point-to-point Naira transfers in February.

Reports from The Wall Street Journal about the new charges come amidst a fresh

statement from Binance urging Nigerian authorities to release Tigran Gambaryan.

The exchange reiterated that :

• the executive has "decision-making authority" within the company

• and should not be held accountable while discussions between

• Binance and Nigerian government officials continue.

While Gambaryan remains detained in Nigeria, it is alleged that Anjorin

another Binance executive facing charges, escaped the country

using a fake passport in March.

According to local reports :

Anjorin escaped custody on March 22 after being taken to a nearby mosque

for prayer. The Nigerian Economic and Financial Crimes Commission

(EFCC)

is preparing to charge Gambaryan and Anjorin

with five money laundering charges totaling over $35.4 million on April 4.

The report indicates that

Gambaryan and Anjorin are listed as the first and third defendants respectively

with EFCC planning to charge Anjorin in absentia. Judge Emeka

Nwite of the Federal High Court in Abuja is set to preside

over the arraignment of Gambaryan, Anjorin, and Binance