NIGERIA has launched legal action against Binance, the world’s largest cryptocurrency exchange, demanding $79.5bn in damages for alleged economic losses and an additional $2bn in unpaid taxes, according to court documents seen by Reuters. Authorities blame Binance for naira devaluation The lawsuit stems from claims that Binance played a significant role in destabilising Nigeria’s local currency, … Read more
A FEDERAL High Court in Abuja has set March 20, 2025, to hear a compensation lawsuit filed by Binance executive Tigran Gambaryan against Nigeria’s National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC). Gambaryan alleges he was unjustly detained in Nigeria and is seeking compensation for the hardship he endured while in custody. Background: … Read more
JUSTICE Emeka Nwite of the Federal High Court in Abuja has ordered the immediate release of the detained Binance Holdings Executive, Tigran Gambaryan. Tigran, who was initially refused bail by Justice Nwite, got his freedom after the Federal Government decided to withdraw all charges against him, citing health and diplomatic reasons, sources in court stated. … Read more
A Federal High Court in Abuja, on Friday, dismissed a fresh bail application filed by the detained Binance Holdings Limited’s executive, Tigran Gambaryan. Justice Emeka Nwite, in a ruling, dismissed the application on the ground that it constituted an abuse of court process. Justice Nwite held that Gambaryan’s request could not be granted when he … Read more
THE Federal Inland Revenue Service (FIRS), on Friday, re-arraigned Binance Holdings Limited on four-count charge bordering on tax evasion allegations. Nigerian representative of Binance, Ayodele Omotilewa, who was docked, took a plea on behalf of the company before Justice Emeka Nwite of a Federal High Court, Abuja. He pleaded not guilty to the four counts. … Read more
US lawmakers have accused Nigeria of holding a Binance Holdings Ltd executive, Tigran Gambaryan, “hostage”. Trojan News reports that Gambaryan, a US citizen and head of financial crime compliance at Binance, has been held in Abuja since April 2024. The face-off between Nigeria and the world’s largest cryptocurrency exchange burst into view in February when Nigerian authorities detained … Read more
Aluko & Oyebode, the law firm handling the case of Binance Holdings Limited, says Mr Tigran Gambaryan, the cryptocurrency firm’s executive, standing trial alongside the company in Nigeria, may die in Kuje Correctional Centre. The law firm stated this in a letter addressed to the Deputy Chief Registrar of Federal High Court (FHC) and signed … Read more
HEARING of bail application of Binance Holdings Limited and one of its Executives, Tigran Gambaryan, before Justice Emeka Nwite of the Federal High Court, sitting in Maitama, Abuja, was on Thursday, April 18, 2024, stalled following a fresh application filed by counsel to the second defendant, Mark Mordi, SAN. The defence’s application, a further affidavit … Read more
THE Economic and Financial Crimes Commission, EFCC on Monday, April 8, 2024 arraigned Binance Holdings Ltd and one of its executives, Tigran Gambaryan before Justice Emeka Nwite of a Federal High Court sitting in Abuja. They were arraigned on a 5-count charge bordering on alleged tax evasion, currency speculation and money laundering to the tune … Read more
BARRING any change, the Abuja Federal High Court has scheduled the arraignment of two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla for Thursday. Gambaryan and Anjarwalla will be charged before Justice Emeka Nwite on two separate charges. The one filed by the Economic and Financial Crimes Commission, EFCC, which bothers on money laundering, has five … Read more