Nigerian Government Ends Prosecution of Binance Executive

After international outcry and attention, the Nigerian government drops all charges against Binance executive Tigran Gambaryan.

After controversy erupted regarding the case, the Nigerian government has dismissed all charges against Tigran Gambaryan, the executive of Binance. Gambaryan has been denied bail by the Nigerian government even though his attorneys have submitted requests on his behalf, citing his deteriorating health. Nevertheless, this most recent development has captivated the attention of market participants, with numerous individuals commending the decision.

Tigran Gambaryan, the executive of Binance, is no longer facing charges in Nigeria

The Nigerian government’s detention of Tigran Gambaryan has sparked extensive discussions in the international market, let alone the crypto sector. It is important to note that the executive at Binance Holdings was apprehended in Nigeria on suspicion of money laundering in connection with $34.4 million.

The trial had garnered international attention, mainly due to Gambaryan’s declining health during his confinement. Despite the Nigerian court’s repeated denial of his bail, even though his lawyers cited his deteriorating health, the court regarded him as a potential flight risk.

Nevertheless, the case changed significantly when the Nigerian government abruptly rescinded all charges against Gambaryan during a covert court proceeding—premium Times reported that Gambaryan was merely an employee of Binance and was not accountable for the company’s overall financial decisions, as per a statement made during the hearing.