Binance executive detained in Nigeria enters a plea of not guilty to charges

Tigran Gambaryan, an executive at Binance, was detained in Nigeria and has pleaded not guilty to four charges of money laundering, as reported by local sources. Gambaryan maintained his innocence during a court hearing on April 8, stating that he cannot be held responsible for Binance’s activities in Nigeria as he does not have decision-making authority in the company’s operations. His lawyer, Chukwuka Ikuazom, argued that Gambaryan could not enter a plea on behalf of his escaped colleague who was also charged. However, Judge Emeka Nwite rejected these arguments, citing local laws that state a person with a physical agent in Nigeria can be served with legal documents. Gambaryan’s case, which was previously adjourned until April 19, will now have a hearing on bail consideration on April 18, with substantive charges scheduled to begin on May 2. Judge Nwite ordered Gambaryan to be remanded at Kuje prison in Abuja until the case concludes. Gambaryan’s attorney requested that he be returned to the Economic and Financial Crimes Commission (EFCC), but the EFCC opposed the request, stating that individuals accused of similar offenses are typically held at the Kuje facility. Meanwhile, Nadeem Anjarwalla, Binance’s Africa Regional Manager, managed to escape and leave Nigeria in March. The charges against Gambaryan and Anjarwalla are part of a wider investigation into Binance’s activities in Nigeria, including allegations of currency manipulation and tax fraud.