Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has said that “the ongoing trial of the controversial online platform, Binance, and one of its Chief Executives, illegally trading in cryptocurrency in Nigeria”, Tigran Gambaryan, follows due process recognized by the laws of the Federal Republic of Nigeria.
This was disclosed in a statement by the Special Assistant (Media) to the Minister of Information and National Orientation, Rabiu Ibrahim, on Wednesday, according to Nairametrics.
The minister’s response might have something to do with a recent letter that twelve US lawmakers allegedly wrote to US President, Joe Biden, pleading with the US hostage affairs unit to help free Gambaryan, who is being held by Nigerian authorities on suspicion of money laundering and tax evasion.
It was earlier reported, that US lawmakers had stated in a letter dated June 4 to President Biden, Secretary Anthony Blinken, and Presidential Envoy for Hostage Affairs Roger D. Carstens that Tigran Gambaryan was being wrongfully detained by the Nigerian government and that urgent action was required to prevent the situation from getting worse.
The politicians’ letter has been extensively covered by a wide range of national and international media outlets, making the trial of the Binance CEO a hot topic on the internet.
However, Idris clarified that the arrested Binance executive has gotten consular access from the US and all appropriate care, adhering to standard diplomatic practice and the law.
The statement further stated that the court in the case has adequately suggested that the reason bail was denied was the flight risk following the unlawful absconding of a co-accused, who is now the subject of an Interpol warrant.
“At all stages, due process has been followed, and prosecutors are confident of their case, based on the facts and evidence gathered. Binance will have every opportunity to defend itself in court against these severe charges of financial crimes against the Federal Republic of Nigeria. The next hearing is on June 20, 2024,” Idris was quoted as saying.
Idris told the general public to note that “Binance is prefaced as an entity whose representatives have been variously imprisoned, fined, sanctioned, and banned in North America, Europe, and Asia, in recent years.”
“Changpeng Zhao, the billionaire co-founder and former CEO of Binance is currently serving a four-month prison sentence in the United States after being found guilty of money laundering, while Binance has openly accepted its role in facilitating terrorism, corruption, sanctions busting, and in aiding and abetting pedophile gangs,” Idris added.
In addition, the minister said that law enforcement authorities think Binance’s activities in Nigeria are part of a larger global trend and that the firm and its leadership will be held accountable by Nigerian and international courts.
The Federal Inland Revenue Service and the Economic and Financial Crimes Commission (EFCC) have filed two separate lawsuits against Binance and its officials; the first case relates to tax evasion, while the second one concerns money laundering and violating foreign currency regulations.
Recall that the Binance executives have also filed a fundamental rights action against Nigerian government institutions, citing a breach of his constitutional right to liberty.
