Recent events have shown that Binance executive Tigran Gambaryan has taken legal action against Nigerian authorities, particularly targeting the National Security Adviser Nuhu Ribadu and the Economics and Financial Crime Commission (EFCC). Gambaryan, along with his colleague Nadeem Anjarwalla, was detained on Feb. 26 in connection with investigations into the operations of the exchange in Nigeria. These allegations of human rights violations have sparked a legal battle that continues to unfold.
Gambaryan’s motion at the Federal High Court in Abuja includes demands such as a declaration that his detention and the seizure of his passport violate his liberty rights, a court order for his immediate release, a permanent injunction against further detention, a public apology, and the coverage of all legal expenses. These demands highlight the seriousness of the situation and the lengths to which Gambaryan is willing to go to defend his rights.
Anjarwalla, Gambaryan’s colleague, initially pursued similar legal action. However, his motion was withdrawn after he managed to escape custody on March 22. The court proceedings have been adjourned to April 8 due to various factors, including the absence of respondents and the lack of legal representation for one of the applicants. This ongoing legal battle reflects the complexity of the situation and the challenges faced by those involved.
In addition to the human rights violations, Binance and its executives are facing serious tax evasion charges in Nigeria. The platform is accused of neglecting tax responsibilities, failing to register with local agencies, facilitating users who evade tax payments, and not issuing invoices for VAT purposes. These allegations add another layer of complexity to the legal battle and the potential consequences for Binance and its executives.
The upcoming court arraignment at the Federal High Court in Abuja on a four-count tax evasion charge signifies a crucial stage in the legal battle. The outcome of this case could have significant implications for Binance, its executives, and the broader cryptocurrency industry. As the proceedings unfold, it is essential to closely monitor the developments and implications of this legal battle on the future of Binance and the cryptocurrency market as a whole.
