Binance: Nigerian Court reschedules hearing on Tigran Gambaryan’s ‘detention’ compensation case against NSA, EFCC 

The case seeks the award of “costs” against the NSA and EFCC over his alleged prolonged detention in Nigeria by security operatives in connection with the Federal Government’s money laundering and foreign exchange contravention allegations against Binance, a renowned cryptocurrency platform.

Justice Inyang Ekwo fixed the new date on Wednesday after hearing from Gambaryan’s lawyer, Sunday Agaji, regarding the stage of the exchange of court processes in the matter.

Naijaonpoint previously reported that on June 19, 2024, Gambaryan’s lead counsel, Tonye Krukrubo (SAN), announced before the court his proposed amended originating motion for the enforcement of his client’s fundamental rights in the suit marked FHC/ABJ/CS/356/2024.

He added that after honoring the invitation, his client, who is not a board member of Binance, was detained.

In his amended originating motion, Krukrubo further sought “the costs of this action on a full indemnity basis,” in addition to other reliefs contained in the suit.

A party seeking an indemnity costs order is literally seeking compensation against a party over the expenses and inconvenience associated with the litigation.

The senior lawyer urged the court to hold that  “The unlawful detention of the applicant (Gambaryan) by the respondents from February 26, 2024, to February 27, 2024 (period of detention before the remand order), and from March 12, 2024, to April 8, 2024 (period of detention after the remand order expired, until arraignment) has caused immense hardship and emotional stress on the applicant, his wife, children, and other members of his family.”   

However, the respondents countered Gambaryan’s submissions on June 21, 2024.

In the EFCC’s motion dated July 2, 2024, and seen by Naijaonpoint on February 5, 2025,  Olanrewaju Adeola asked the court to grant leave to the respondents to file a further counter-affidavit to the applicant’s amended originating motion.

He submitted that there are facts that the respondents did not include in the counter-affidavit previously filed before the court.

He stated that these facts relate to this suit and charge Number. FHC/ABJ/CR/138/2024 in the case of Federal Republic of Nigeria v Binance Holdings Ltd & Anor (the applicant in this suit), which was filed on March 28, 2024, and is pending before Honourable Justice Emeka Nwite.

The case before Nwite involves alleged money laundering and foreign exchange contravention alleged against Binance.

He emphasized the importance of presenting the facts in Nwite’s proceedings before the court to ensure a just decision.

Gambaryan’s amended processes were granted by the court.

“That means the matter is not ripe for hearing,” the judge responded.

“That means the matter is not ripe for hearing,” the judge responded.

In early 2024, the federal government of Nigeria accused the Binance cryptocurrency exchange platform of influencing foreign exchange (FX) rates, leading to stricter regulatory and legal oversight of crypto trading platforms.

The duo was also sued by the EFCC and the Federal Inland Revenue Service (FIRS), alongside Binance, on charges of tax evasion, foreign exchange contravention, and money laundering.

Anjarwalla later fled Nigeria while in detention, while Gambaryan remained in detention based on a court order.

The FIRS later amended its charges, naming Binance as the sole defendant.

On October 23, 2024, Justice Emeka Nwite discharged Tigran Gambaryan from money laundering charges filed by the EFCC.

Justice Nwite discharged Gambaryan on health grounds, corroborated by the EFCC.

The EFCC’s case against Binance is still pending.