Local News

Nigeria Drops Money Laundering Charges Against Binance Executive

Binance Executive’s Charges Dropped Amid Diplomatic Efforts

The Federal Government of Nigeria has officially dropped money laundering charges against Tigran Gambaryan, an executive at Binance Holdings.

Gambaryan, who had been detained since February 2024, faced charges related to money laundering and currency manipulation.

The Economic and Financial Crimes Commission (EFCC) decided to withdraw the charges during a court hearing in Abuja, citing that Gambaryan, a U.S. citizen, was merely an employee and not responsible for the company’s broader financial decisions.

This decision comes after diplomatic efforts between U.S. and Nigerian authorities, alongside concerns over Gambaryan’s deteriorating health.

However, the case against Binance as a company continues, with other legal matters pending.

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