A senior executive at Binance, Tigran Gambaryan, has petitioned the Federal High Court in Abuja to award costs against the Office of the National Security Adviser and the Economic and Financial Crimes Commission over his prolonged detention in Nigeria.
The request was part of an amended originating motion for the enforcement of his fundamental rights, as disclosed by his lawyer, Tonye Krukrubo SAN, during a court session on Wednesday, June 19, 2024.
In his initial lawsuit, Gambaryan had sought an apology from the NSA and EFCC for his detention. This suit, marked FHC/ABJ/CS/356/2024 and dated May 8, 2024, was aimed at challenging his detention as a violation of his fundamental rights.
Ahead of the June 19 hearing, Gambaryan’s lawyer filed for an amendment to the fundamental rights suit. The amended motion sought the costs of the action on a full indemnity basis, in addition to the original reliefs.
The senior lawyer emphasized that the unlawful detention had caused immense hardship and emotional stress to Gambaryan and his family.
Gambaryan, an American citizen, visited Nigeria on February 26, 2024, with Nadeem Anjarwalla to honor an invitation from the NSA and EFCC. Despite not being a board member of Binance, he was detained after the meeting and was not released for an extended period.
The suit claims that his detention and the seizure of his passport violated his right to personal liberty, as guaranteed by the 1999 Constitution.
During the court session, Krukrubo requested permission to amend the suit. However, EFCC counsel Olanrewaju Adeola argued that the amendment application was incompetent and should be denied. Justice Inyang Ekwo overruled the EFCC’s objection, allowing the amendment and directing that the amended motion be served on the respondents within two days.
Justice Ekwo ruled, “The motion on notice by the applicant for amendment of his originating process dated May 8, 2024, is moved. The learned counsel for the respondents has adopted his counter affidavit in opposition to the application for amendment. I have studied the averments thereof and I am of the opinion that I ought to overrule the opposition to this amendment because, by law, parties are entitled to amend their processes even before judgment. I am minded therefore to grant the application for amendment.”
The case was adjourned to July 9 for a full hearing on the amended motion. The judge also ordered the applicant to pay the respondents N50,000 for the costs incurred in the initial fundamental rights suit.
The federal government recently accused Binance of influencing foreign exchange rates, leading to stricter oversight of crypto trading platforms. On February 28, Nigerian authorities detained Gambaryan and Anjarwalla, the regional manager for Africa, following the government’s ban on cryptocurrency channels as part of a campaign against currency speculation. The Naira has devalued significantly, losing 70% of its value against the dollar since last year’s foreign exchange reforms, exacerbated by a local dollar shortage.
Anjarwalla has since fled Nigeria, while Gambaryan remains embroiled in legal battles. The FIRS has filed amendment charges against Binance, with the executives now co-defendants in a money laundering suit filed by the EFCC.
Trial judge Emeka Nwite recently struck out the Binance executives’ names from the FIRS matter, focusing solely on Binance as the defendant.
Gambaryan’s pursuit of justice highlights the ongoing challenges faced by international executives in navigating Nigeria’s regulatory and legal landscape.
