- A Nigerian court has adjourned the money laundering case against Binance.
- The latest delay in the case comes amid continued procedural errors from authorities.
- The adjourned date now bears significance for many aspects of the Binance Nigeria debacle.
Delays continue to hound Nigeria’s legal effort against Binance and two of its executives.
The trial of Binance and its executives Tigran Gambaryan, the firm’s head of Financial Crime Compliance, and Nadeem Anjarwalla, the firm’s regional manager for Africa, of U.S. and British-Kenyan descent, respectively, on a $35.4 million money laundering charge was supposed to kick off in Nigeria’s Federal High Court Abuja on Thursday, May 2. However, as in many instances in the case so far, procedural errors have caused delays.
Binance Money Laundering Case Adjourned
On Thursday, Federal High Court Judge Justice Emeka Nwite adjourned the trial of Binance and its executives on money laundering charges brought by the Economic and Financial Crimes Commission (EFCC), Nigeria’s anti-graft agency, to May 17.
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Per a local news report, the adjournment came as Binance lawyer Tonye Krukrubo, a Senior Advocate of Nigeria (SAN), told the court that contrary to the EFCC’s claims, he had not been served with the necessary documents to prepare for the case.
Krukrubo was subsequently served with the reportedly 300 pages-long document in court after a bailiff explained that efforts to serve Binance through Tigran Gambaryan, who is being held in Nigeria’s infamous Kuje prison, had failed as he was inexplicably refused from seeing him.
On April 4, Justice Nwite was forced to delay Gambaryan’s arraignment on these same money laundering and tax evasion charges from the Federal Inland Revenue Service (FIRS), Nigeria’s tax authority, for similar reasons. Expressing dissatisfaction with the prosecution’s continued lapses in the case, Justice Nwite cautioned against further delays on Thursday.
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"It behooves on you, as prosecution, to do all within your power in the trial because I am not going to entertain any delay in this trial again," the Federal High Court judge warned.
Meanwhile, following the judge’s recent decision, May 17 has become the date to watch for several aspects of the Binance Nigeria debacle.
A Crucial Date
May 17 is now the date the money laundering trial will kick off in earnest. It is also the rescheduled date for the court to revisit the tax evasion charges brought by the FIRS and rule on Gambaryan’s bail application.
The Binance executive was detained in Nigeria with Nadeem Anjarwalla in February 2024 after arriving at the invitation of authorities to negotiate the resolution of complaints bordering on the manipulation of the naira through the firm’s p2p platform. Despite being mid-level executives at Binance, they have been named in the money laundering and tax evasion charges against the firm.
While Anjarwalla fled detention in March 2024, Gambaryan has now remained in Nigerian custody for over 60 days, nearly half of which has now been spent in a prison that also houses Islamic State terrorists.
On the Flipside
- On April 30, U.S. Representative Rich McCormick raised Gambaryan’s detention with the House Foreign Affairs Committee, disclosing that he is working to secure the release of the Binance executive who had also served a decade-long stint as a special agent in the Internal Revenue Service, contributing to several high profile crypto cases including the takedown of Silk Road.
- Nigeria is working with Interpol to secure the extradition of Anjarwalla, who has been traced to Kenya.
Why This Matters
The frequent delays in the Binance case raise questions about Nigeria’s handling of the already controversial legal effort.
Read this for more on the Binance Nigeria Debacle:
Binance Exec Who Fled Nigeria Will Be “Smoked Out”: Interpol VP
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