The Federal Government has withdrawn the money laundering charges filed against an executive of Binance Holdings Limited, Tigran Gambaryan. In April, the Economic and Financial Crimes Commission (EFCC) arraigned Binance, a cryptocurrency firm, and Gambaryan, on allegations of money laundering. Gambaryan has been in detention since February following the clampdown on Binance over alleged manipulation of the Nigerian currency. At …

Binance Holdings Limited on Tuesday expressed readiness to “settle any alleged past issue” with the Nigerian Government. To this end, the cryptocurrency trading platform urged the Nigerian Government to release its detained executive, Tigran Gambaryan. On Monday, Gambaryan was arraigned at the Federal High Court in Abuja for alleged money laundering. Upon appearance, Gambaryan was denied a wheelchair and had …

A Federal High Court in Abuja has summoned the Governor of the Central Bank of Nigeria (CBN) and the Head of the Legal Services Department of the apex bank to appear before it with specific documents on Monday, 2 September, the new date fixed for the continuation of the trial in the money laundering case brought against Binance Holdings Limited …

Binance sighed relief on Friday as the Federal High Court in Abuja cleared Tigran Gambaryan, a 39-year-old American and fleeing Nadeem Anjarwalla, of tax evasion charges filed by the Federal Inland Revenue Service (FIRS). The court’s decision came after the FIRS submitted amended charges that effectively dropped the tax evasion allegations against Gambaryan and his colleague, who absconded to Kenya. …

The Federal Government of Nigeria has said that it is aware of attempts by Binance to launder its “impaired image as an organisation that does not play by the rules and laws guiding business conduct in sovereign nations”. On Tuesday, the Chief Executive Officer of Binance, Mr. Richard Teng had described the detention of its employee, Tigran Gambaryan by the …

The founder of cryptocurrency firm, Binance, was sentenced to four months in US prison on Tuesday after pleading guilty to money laundering charges, in the most high-profile crypto case since Sam Bankman-Fried was jailed. Changpeng Zhao, a Canadian, resigned from his post at the world’s largest cryptocurrency exchange platform late last year as part of a deal with US authorities. …

A Federal High Court in Abuja has adjourned the money laundering suit against Binance Holdings Limited and its official till 8 April. The trial judge, Justice Emeka Nwite, adjourned the matter for ruling after listening to the parties’ submissions on the service of the charge on Binance Holdings Limited. The defendants; Binance Holdings Limited and Tigran Gambaryan were meant to …

The Federal Government and the International Criminal Police Organisation (INTERPOL) have commenced the process of extraditing a Binance chief, Nadeem Anjarwalla, who escaped from detention on 22 March. Security agencies had in February arrested Anjarwalla and Tigran Gambaryan, two executives of the crypto-currency firm, Binance Holdings Limited, over alleged money laundering. They were detained in ‘a safe house’ in Abuja …

The trial of Binance Holdings Limited and its executives Tigran Gambaryan and Nadeem Anjarwalla by the Economic and Financial Crimes Commission (EFCC) for an alleged money laundering case of $35,400,000 will take place on Thursday. The EFCC formally charged Binance Holdings Limited, Gambaryan, and Anjarwalla with money laundering on 28 March. Anjarwalla, who fled Nigeria and is now in hiding, …

The Office of the National Security Adviser (ONSA) has confirmed that a suspect in the ongoing criminal probe into the activities of Binance in Nigeria, Nadeem Anjarwalla escaped from lawful custody last Friday. In a statement on Monday, the Head of Strategic Communication in the Office of the National Security Adviser, Zakari U. Mijinyawa said: “Upon receiving this report, this …