Nigerian Court Drops All Charges Against Binance Executive Tigran Gambaryan Amid Diplomatic Pressure

Diplomatic Efforts Pay Off as FG Drops All Charges Against Binance Executive Tigran Gambaryan Following Months of Detention in Nigeria

The Federal Government has dropped all charges against Tigran Gambaryan, a Binance Holdings executive who has been in detention since April over money laundering allegations. The Economic and Financial Crimes Commission (EFCC) announced the withdrawal of charges on Wednesday at the Federal High Court in Abuja.

Gambaryan, a former IRS agent and U.S. citizen, was arrested in February during a visit to Nigeria aimed at addressing regulatory concerns about Binance. He was accused of money laundering and operating an unlicensed financial institution. However, the prosecution clarified that Gambaryan was simply an employee and not involved in the company’s financial decision-making.

Despite initial bail denials by Justice Emeka Nwite, citing flight risk concerns, Gambaryan’s health reportedly deteriorated in detention, with prison officials describing his condition as “very sick.”

The withdrawal of charges follows intense diplomatic efforts between Nigerian and U.S. officials, with U.S. lawmakers advocating for Gambaryan’s release. Mark Mordi, Senior Advocate of Nigeria and Gambaryan’s defense lawyer, agreed with the prosecution’s stance that his client was not culpable.

This development marks the end of a months-long legal battle that had drawn international attention.