In recent developments, the Federal Government of Nigeria has dismissed all charges against Tigran Gambaryan, a Binance executive, after a protracted stay in prison.

According to local media, Justice Emeka Nwite of the Federal High Court, Abuja ruled for the immediate dismissal of the money laundering charges against Gambaryan. Notably, this came the prosecution’s (the EFCC) request to the High Court to cease prosecuting the Binance exec.

R U Adaba, the legal counsel representing the EFCC highlighted diplomatic interventions and Tigran Gambaryan’s minor role in Binance’s larger case in the request to the court. Consequently, Gambaryan was released from prison after the court’s proceedings on October 23.

Interestingly, this latest court hearing was initially slated for Friday, October 25. Therefore, an earlier court proceeding with the charges dropped emphasized deliberate moves to avoid much publicity according to the report.

Tigran Gambaryan’s Ordeal in Nigeria

The report highlights diplomatic interventions and Gambaryan’s inconsequential role in the Nigeria vs Binance case. However, there are speculations that the ruling to dismiss the charges and release the Binance executive was to allow for treatment abroad for his deteriorating health.

Significantly, some assert that the country could not provide adequate healthcare to Gambaryan while he was detained to alleviate his condition. He travelled to Nigeria in February 2024 to reconcile legal disputes over unauthorized allegations against Binance, when he was imprisoned by the authorities.

Per the legal confrontations, Binance exited Nigeria the next month. However, the Nigerian authorities still detained the Binance executives. Notably, the exchange company tried to bail Tigran Gambaryan severally all to no avail.

From one court hearing to the next, Gambaryan spent more than 7 months in Kuje Prison Abuja until this recent ruling ordering his release.

Nigeria Vs Binance: Legal Confrontation Continues After Executive Release

Though Gambaryan has been released, the country still probes Binance over money laundering allegations. For context, Nigeria has charged Binance with tax evasion and operating without proper licensing. Interestingly, the crypto exchange giant denies the allegations.