Binance CEO Case Moves A Month Further Into Nigeria

Nigerian authorities have rescheduled the trial date. Senior Executive at Binance Tigran Gambaryan until September 2, which is a month earlier than the original schedule.

The Nigerian court issued this decision after Gambarian’s defense team requested that the hearing be expedited, citing health reasons.

Binance urges US to intervene after detained Nigerian executive’s health deteriorates, hearing date moved up

The more we talk, the more likely the Nigerian federal government will address this issue.

Please support the Tigran family.

Supports #fritigran + Retweet @Binance family pic.twitter.com/OuAA0lASQV

— OMO 🔶 BNB (@Crypto_omo) August 27, 2024

Gambarian was arrested on charges of money laundering and financial crimes amounting to $34 million after he was lured to Nigeria for a business meeting in February 2024.

Gambarian was arrested along with fellow executive Nadeem Anjarwala, who later managed to escape, leaving Gambarian to face the charges alone.

Richard Teng criticizes Nigerian government

Richard Teng, CEO of Binance Criticize the Nigerian government The Somali president also criticised what he called the “unconstitutional treatment” of Gambarian and called for his release on humanitarian grounds as the president’s health rapidly deteriorated.

Kuje prison, located near the Nigerian capital Abuja, holds about 1,000 inmates, including 64 suspected of involvement with the extremist group Boko Haram.

Tigran Gambaryan, a former US Federal Agent and crypto crime investigator, has been detained by the Nigerian government for 6 months in inhumane conditions that have caused his health to deteriorate. Free Tigran! pic.twitter.com/0fmfvewYDH

— Jameson Lopp (@lopp) August 26, 2024

Despite his deteriorating health, Nigerian government Authorities have denied Gambarian the medical care he needs. According to his family, Gambarian suffers from a herniated disc that leaves him almost immobile. However, he is not allowed to use a wheelchair, which adds to his suffering.

Wider Crackdown on Cryptocurrencies in Nigeria

Gambarian’s plight reflects Nigeria’s broader stance on cryptocurrencies. The Nigerian government has accused Binance of contributing to the devaluation of the Nigerian naira through its peer-to-peer services.

Although Nigeria is among Africa’s largest oil producers, its economy is stagnant and the naira has fallen sharply in value. According to Bloomberg, the main reason behind the decline of the Nigerian currency may be rampant corruption in the country’s government.

Accusations that Binance is disrupting the country’s economy have put the cryptocurrency exchange under intense scrutiny as well.

The session, scheduled for October 11, was a highly anticipated event in the crypto space, as it could have major implications for Binance, the world’s largest crypto exchange.

Gambarian’s family and supporters remain hopeful that an early trial will result in a quick resolution, allowing him to return home to receive better medical care.

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