Nigerian Court Adjourns Ruling Despite Binance Call For The Release Of Its Executive

As tensions between the Nigerian authorities and Binance continue to rise, a Nigerian court has yet again adjourned the hearing for the detained Binance executive to April 19. 

Recall that the duo of Tigran Gambaryan and Nadeem Anjarwalla, before he escaped from the West African nation, had appeared in court around late March, which led to the April 4 adjournment. 

Meanwhile, before yesterday's court appearance, Gambaryan had also sued the Nigerian authorities on counts of illegal detention and lack of clarity concerning his involvement in the legal battle. However, it ended inconclusively as the hearing was postponed to April 8 because the accused party failed to appear in court. 

Get UPay Crypto Card

Experience the Best of Online Payment and Seamless Crypto Transactions.

Sign Up

No End In Sight Despite Binance Call For Its Executive Release 

The court's decision to postpone the court case comes despite Binance's request that its employee be released, citing that he has no say in the exchange's decision-making process and, as such, does not deserve to be punished for charges levied against the trading platform. 

In addition, the exchange company stated clearly that Gambaryan's freedom will not affect the current status quo as negotiations with the Nigerian government continue.

On X, the trading platform wrote, “Binance respectfully requests that Tigran Gambaryan, who has no decision-making power in the company, is not held responsible while current discussions are ongoing between Binance and Nigerian government officials.”

Considering recent developments, Binance calls seem to have yielded no result as indications appear to hinge on a further complicated outlook, even as both parties seek to resolve their dispute. 

Gambaryan To RemainIn EFCC's Custody 

Following Nadeem's flee in late March, the Nigerian Economic and Financial Crime Commission (EFFC) stepped in to oversee the process, which resulted in a new series of charges levied against Gambaryan, including failure to remit taxes and assisting the exchange users evade tax obligations. 

Consequently, the Binance Head of Financial Crime Compliance will remain in EFCC's custody as both aggrieved parties anticipate favorable court rulings on April 8 or 19. 

Get UPay Crypto Card

Experience the Best of Online Payment and Seamless Crypto Transactions.

Sign Up

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence before making any trading or investment decisions.

Subscribe to our Newsletter

Join our community and stay up-to-date with the latest news, updates, and exclusive offers by subscribing to our newsletter. Enter your email address below to receive our monthly newsletter directly to your inbox.

pop up image

Experience the Best of Online Payment with Crypto

UPay offers mainstream-friendly access to crypto. Easily buy, swap, make payouts, and manage funds using our crypto card. No cross-border fees.