Revealed: Real reason FG freed Binance manager emerges

• Nigeria's federal government has announced its withdrawal of all the charges against the detained Binance executive Tigran Gambaryan
• EFCC lawyer announced the move during the hearing of the case at the Federal High Court in Abuja on Wednesday, October 23
• According to the EFCC lawyer, Tigran Gambaryan was only a staff of Binance and should not be charged in person for tax invasion that the company committed

Nigeria's government has dropped all charges against Tigran Gambaryan, a Binance executive who's been detained since April, facing money laundering and currency speculation allegations involving $34.4 million.

In a surprise move, the Economic and Financial Crimes Commission (EFCC) lawyer announced the withdrawal of charges at the Federal High Court in Abuja on Wednesday, October 23, just two days before the scheduled trial date.

Nigeria drops all charges against Binance executive Photo Credit: @officialEFCC
Source: Twitter

The EFCC lawyer said that Gambaryan, a U.S. citizen, was deemed not involved in Binance's broader financial decisions, and his role was merely that of an employee.

Why court freed Binance manager

This development comes after intense diplomatic lobbying between Nigerian and U.S. government officials for Gambaryan's release. Some U.S. lawmakers had also campaigned for his freedom, writing to relevant authorities to intervene.

Gambaryan's health issues had been a recurring concern during the trial, with two bail applications denied due to flight risk concerns. His colleague, Nadeem Anjarwalla, had escaped from custody in March, obviously influencing the court's decision.

The case against Binance, however, will continue, with separate tax evasion charges pending before another judge. Gambaryan's release marks a significant turn in the high-profile case, highlighting the complex intersections of international diplomacy, finance, and justice.

Like many other countries worldwide, Nigeria has opposed the activities of cryptocurrency companies for several reasons, and top on the list are tax evasion and fraud activities on the platform.

Naira vs Dollar: Reno Omokri tackles Binance

Legit.ng earlier reported that Reno Omokri, a PDP chieftain and former presidential aide, has condemned Binance's allegation that officials in NSA Nuhu Ribadu's office demanded a bribe from the cryptocurrency company.

Omokri said the allegations were a ploy to escape the prosecution for their criminality because Binance had just admitted to money laundering and other dishonest acts in the US.

The former presidential aide then challenged the cryptocurrency company to name names of the officials who demanded the $150 million bribe at the NSA office.

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Source: Legit.ng