The recent court hearing involving crypto exchange Binance in Nigeria on April 4 raised eyebrows due to the absence of legal representation. Instead, only the compliance chief, Tigran Gambaryan, was present, who has been detained by the Nigerian government since February. Despite expectations for the case to move forward, the Nigerian High Court decided to postpone the proceedings until April 19. Surprisingly, Binance has failed to provide a response to inquiries from CryptoSlate regarding the matter.
Last week, reports surfaced that Binance and its top executives are facing charges related to failing to register with local agencies and evading tax responsibilities in Nigeria. Moreover, the government has accused Binance of aiding users in avoiding tax payments. Despite having Gambaryan in custody for over a month, the authorities have failed to properly serve the charges to the defendants, leading to legal arguments against the continuation of the arraignment.
In the past months, Binance has been embroiled in disputes with the Nigerian government over allegations of exacerbating foreign exchange issues in the country. Despite vehemently denying any wrongdoing, the Federal Inland Revenue Services and Nigeria’s Economic and Financial Crimes Commission have lodged criminal complaints against the exchange and its executives, including Nadeem Anjarwalla and Gambaryan. Anjarwalla, a UK citizen, managed to evade custody in March and is now facing trial in absentia, with Interpol involved in efforts to extradite him.
Call for Release and Legal Actions
While Anjarwalla remains at large, Binance has advocated for the release of Gambaryan, stressing his lack of significant decision-making authority within the company. Notably, Gambaryan has taken legal action against the Nigerian authorities, claiming violations of his fundamental human rights in the process. The complex legal saga continues to unfold, with uncertainties surrounding the fate of Binance and its personnel in Nigeria.