The Nigerian government has withdrawn all money laundering charges against Tigran Gambaryan, a Binance Holdings executive who had been detained since April.
The decision was announced during an unscheduled hearing at the Federal High Court in Abuja on Wednesday morning.
During the proceedings, the Economic and Financial Crimes Commission (EFCC) prosecutor announced the withdrawal, noting, “Mr. Gambaryan was merely an employee of Binance whose activities were under scrutiny.”
Mark Mordi, a Senior Advocate of Nigeria (SAN) representing Gambaryan, supported the prosecution’s position, stating, “His client was not involved in the company’s broader financial decisions.”
This sudden development resulted from months of behind-the-scenes diplomatic negotiations between Nigerian and U.S. government officials.
The release follows intense lobbying by U.S. lawmakers who had written to both Nigerian and American authorities seeking intervention for Gambaryan, a U.S. citizen.
Prior to this development, Mr. Gambaryan had faced significant legal challenges. Judge Emeka Nwite had twice denied him bail, most recently on October 11, ruling that his health concerns were insufficient grounds for release.
The charges against Mr. Gambaryan and Binance included five counts of money laundering and currency speculation, involving approximately $34.4 million.
Binance continues to face separate tax evasion charges before another Federal High Court judge in Abuja.
Throughout his detention at the Kuje Correctional Centre in Abuja, Gambaryan’s health became a recurring concern in the trial proceedings.
His second bail application, based on medical grounds, was dismissed by Judge Nwite, who ruled that Gambaryan had failed to prove that the Nigerian Correctional Service (NCoS) lacked adequate facilities or had failed to address his health needs.
