• Latest
  • Trending
Nigerian court frees Binance executive Tigran Gambaryan from money laundering charges after eight months

Binance: Gambaryan’s detention extends as bail hearing faces delays

April 25, 2024
Edtech startup The Invigilator raises $11 million to scale its AI platform

Edtech startup The Invigilator raises $11 million to scale its AI platform

September 6, 2025
iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

September 6, 2025
OpenAI challenges LinkedIn with new AI-powered hiring platform

OpenAI challenges LinkedIn with new AI-powered hiring platform

September 6, 2025
Tanzanian fintech NALA takes its services to Kenya

Tanzanian fintech NALA takes its services to Kenya

September 6, 2025
Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

September 5, 2025
Meta Brings Back Facebook Poke with Emojis and Streaks

Meta Brings Back Facebook Poke with Emojis and Streaks

September 5, 2025
Know why they’re calling: Truecaller launches AI-powered insights

Know why they’re calling: Truecaller launches AI-powered insights

September 5, 2025
Visa harnesses local partnerships to launch Visa Pay in DR Congo

Visa harnesses local partnerships to launch Visa Pay in DR Congo

September 5, 2025
Betika denies recent reports of security breach

Betika denies recent reports of security breach

September 5, 2025
10 things you can actually buy with crypto in Africa

10 things you can actually buy with crypto in Africa

September 5, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Cryptocurrency

Binance: Gambaryan’s detention extends as bail hearing faces delays

Ibukunoluwa Bankole by Ibukunoluwa Bankole
April 25, 2024
147 3
0
Nigerian court frees Binance executive Tigran Gambaryan from money laundering charges after eight months

Nigerian court frees Binance executive Tigran Gambaryan from money laundering charges after eight months

465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

The legal team representing Tigran Gambaryan, a top executive at Binance, voiced concerns over his prolonged detention at the Kuje correctional centre despite pending bail proceedings before the Federal High Court, Abuja.

Mark Mordi SAN, Gambaryan’s lawyer, expressed dismay over his client’s continued incarceration, emphasising the unfairness of the situation during a recent court session by Justice Emeka Nwite.

The court had previously adjourned proceedings to allow the Economic and Financial Crimes Commission (EFCC) more time to respond to issues raised by the defence in Gambaryan’s bail application.

Read also: South Africa releases list of 75 newly licensed crypto firms

RelatedPosts

How Bybit and Mantle’s 2.0 roadmap is turning MNT into a multi-utility token

What to know about Ronaldo’s NFT collections with Binance

Binance founder Zhao moves to dismiss FTX’s $1.8 billion lawsuit over share buyback deal

Binance Legal Dispute and New Developments

Gambaryan’s legal team had urged the court to grant him bail on liberal terms, highlighting the extended duration of his detention without resolution.

During the latest court session, the EFCC informed Justice Nwite of receiving a further affidavit from Gambaryan’s defence, requesting time to review its contents before responding adequately.

In response, Modi stressed the urgency of the matter, emphasising his client’s prolonged incarceration and the need for a prompt resolution.

Justice Nwite, while acknowledging the importance of due process, opted to adjourn the proceedings to ensure fairness and adherence to legal protocols. He cited an upcoming conference at the National Judicial Institute as a factor influencing the scheduling of further proceedings.

The case was subsequently adjourned to April 23, 2024, for the hearing of Gambaryan’s bail application, allowing both parties to prepare adequately within the stipulated time frame.

As the legal battle continues, concerns mount over the delayed resolution of Gambaryan’s bail application and the broader implications for Binance amidst ongoing regulatory scrutiny.

With the date for the bail hearing set, stakeholders await further developments in this high-profile case, underscoring the significance of legal proceedings in shaping the future trajectory of the cryptocurrency industry.

Background of Finance Ordeal

The Binance saga in Nigeria began in September 2023 when Nigeria’s Securities and Exchange Commission (SEC) placed a disclaimer on Binance Nigeria Limited, stating that the platform was neither registered nor regulated. In response, Binance stated it was working with local authorities, lawmakers, and regulators to ensure compliance. However, in March 2024, the Nigerian government blocked the online platforms of Binance and other crypto firms to avert alleged criminal activities on these platforms.

Read also: China warns its nationals after Angola bans crypto mining

The Nigerian government then detained two executives of Finance, Tigran Gambaryan and Nadeem Anjarwalla, who were in the country to negotiate with the authorities amid the crackdown. The executives were held for at least twelve days, and the investigation was taken over by the Economic and Financial Crimes Commission (EFCC). The Nigerian government also demanded that Finance disclose its top 100 users in the country and all transaction history spanning the past six months.

The Nigerian government accused Binance of operating illegally and facilitating “illicit flows from sources and users we cannot adequately identify,” amounting to $26 billion. The detained executives may face charges related to currency manipulation, tax evasion, and illegal operations. However, as of Tuesday, none of the executives had been formally charged with criminal offences.

Binance, in response to the heightened regulatory scrutiny, discontinued its naira (NGN) services last week. Nigeria’s request for Binance’s top users in the country is the new focal point in negotiations between the largest crypto platform and Africa’s top crypto market. The ongoing legal dispute between Binance and Nigeria is still unresolved, with Nigeria’s parliament threatening to issue a warrant of arrest for the company’s executives and summoning Binance CEO Richard Teng to explain investigations into the company’s alleged involvement in money laundering and terror financing.

Tags: Binance
Ibukunoluwa Bankole

Ibukunoluwa Bankole

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.