ARAFAT DOOR TO DOOR SUPPORT FARMER MOHAMMED UMAR BAGO’S ADMINISTRATION
President Tinubu administration has dropped all charges against the Chief Executive of Binance Holdings, Tigran Gambaryan, who has been detained since April, facing trial for money laundering.
The withdrawal of charges was announced by Economic and Financial Crimes Commission ( EFCC) at the Federal High Court in Abuja on Wednesday morning.
It should be recalled that the judge, Emeka Nwite, had previously denied Gambaryan bail twice, citing flight risk concerns.
Gambaryan’s health had reportedly deteriorated during detention, with prison officials describing him as “very sick”.
Gambaryan, a United States citizen and former IRS agent, was arrested in February while visiting Nigeria to address regulatory concerns about Binance. He was accused of money laundering and operating an unlicensed financial institution.
The prosecution’s lawyer stated that Gambaryan was merely an employee of Binance, not involved in the company’s broader financial decisions.
Mark Mordi, Gambaryan’s defence lawyer and Senior Advocate of Nigeria agreed with the prosecution’s assessment.
It is understood that there were intense diplomatic efforts between Nigerian and US government officials to secure Gambaryan’s release.
