Recently, news broke that Tigran Gambaryan, a high-ranking official at Binance, has taken legal action against the Office of the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC) in Nigeria. This bold move by Gambaryan, an American citizen, has raised eyebrows and sparked debates about the treatment of foreign nationals in Nigeria, as well as the government’s intentions behind detaining him.
The crux of Gambaryan’s lawsuit lies in his claim of wrongful detention by the Nigerian authorities. His lawyer, T.J. Krukrubo SAN, presented the case before the Federal High Court in Abuja, shedding light on the circumstances that led to Gambaryan’s incarceration. According to court documents, Gambaryan, along with Nadeem Anjarwalla, attended a meeting with Nigerian officials on February 26, 2024. However, following the meeting, both Gambaryan and Anjarwalla were detained by Nigerian authorities. While Anjarwalla managed to escape, Gambaryan has been in custody ever since.
Krukrubo emphasized that Gambaryan had not committed any offense during the meeting or at any other time in Nigeria. Instead, the lawyer argued that Gambaryan’s detention is being used as leverage to extract demands from Binance, the cryptocurrency exchange where Gambaryan serves as an executive. This assertion raises serious questions about the government’s motives behind detaining Gambaryan.
In his quest for justice, Gambaryan has requested several orders from the court, including a declaration that his detention violates constitutional provisions on personal liberty, an immediate release from custody, and a perpetual injunction against further detention related to Binance investigations. Additionally, Gambaryan has demanded a public apology from the Nigerian authorities for his unjust incarceration.
During the court proceedings, Krukrubo informed Justice Inyang Ekwo that the respondents, NSA and EFCC, had yet to respond to the application. As a result, the judge decided to adjourn the case to April 8, giving the respondents time to address the allegations brought forth by Gambaryan. This delay underscores the complexity of the legal battle that Gambaryan finds himself embroiled in.
This legal action by Gambaryan comes at a time when cryptocurrency exchanges in Nigeria are facing increased scrutiny from the government. Accusations of influencing foreign exchange rates have prompted the Nigerian authorities to impose stricter regulations on crypto trading platforms. The detention of Gambaryan and Anjarwalla occurred in the aftermath of the ban on cryptocurrency channels, a move aimed at curbing currency speculation. This regulatory environment has not only impacted the operations of cryptocurrency exchanges but has also exacerbated economic challenges in Nigeria, as evidenced by the significant devaluation of the Naira against the dollar and the scarcity of dollars in the local economy.
Gambaryan’s legal battle against the Nigerian authorities sheds light on the complexities of doing business in a regulatory environment that is constantly evolving. It also raises important questions about the boundaries of governmental power and the protection of fundamental rights, both for foreign nationals and local citizens. As the case unfolds in the coming weeks, it will be interesting to see how the legal system in Nigeria navigates these contentious issues and delivers justice in what has become a high-profile confrontation between a foreign executive and the Nigerian government.
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