Detained Binance Executive Files Lawsuit Against Nigerian Authorities

Key Points:

• Binance executive sues Nigeria’s NSA and EFCC over human rights violations.
• The Nigerian government charges Binance with tax evasion amidst currency impact concerns.
• Legal proceedings are adjourned as executives seek release; the digital asset community demands freedom.

Detained Binance executive Tigran Gambaryan has taken legal action against Nigeria’s National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC).

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Binance Executive Files Lawsuit Against Nigerian Authorities

According to local media reports, Gambaryan filed a lawsuit on March 18, alleging violations of his fundamental human rights. Represented by his lawyers from Aluko and Oyebode Law Firm, Gambaryan approached the Federal High Court in Abuja, seeking several reliefs.

Gambaryan requested the return of his international passport, immediate release from custody, an injunction against future detention in similar investigations, and a public apology from the NSA and EFCC. He also sought full indemnity for the costs incurred during legal proceedings. Nadeem Anjarwalla, Binance’s Africa regional manager, who escaped custody on March 22, also filed a separate suit.

Legal Proceedings Adjourned as Executives Seek Release

The executives were caught up in a government crackdown following concerns about cryptocurrency platforms impacting the Nigerian currency and allegations of money laundering activities. Binance executives were summoned for negotiations, leading to the delisting of NGN P2P options. However, the Nigerian government subsequently filed tax evasion charges against Binance and its executives.

Despite demands from the digital asset community for their release, the court adjourned proceedings to April 8 due to the absence of respondents and legal representation. The charges against Binance include neglecting to register with local agencies, tax evasion, and facilitating users evading tax payments. The Nigerian government also accused Binance of failing to issue invoices for Value Added Tax (VAT) purposes.