The Federal Government has officially dropped the money laundering charges against Binance executive Gambaryan Tigran.
This decision was made known during a hearing at the Federal High Court in Abuja on Wednesday, October 23, where the Economic and Financial Crimes Commission (EFCC) announced the withdrawal.
Gambaryan, a U.S. citizen and head of financial crime compliance at Binance, had been embroiled in legal proceedings for months. The charges, which amounted to $35 million in money laundering allegations, had been part of a broader case involving Binance and its regional operations in Africa.
His co-defendant, Nadeem Anjarwalla, the exchange’s British-Kenyan regional manager for Africa, had escaped from custody earlier in the year.
During the hearing, the EFCC’s legal representative clarified that Gambaryan had no direct involvement in the financial activities for which the charges were laid. He emphasised that Gambaryan’s role as an employee at Binance was unrelated to the broader accusations.
Mark Mordi, Senior Advocate of Nigeria (SAN), representing Gambaryan, also confirmed that his client was not part of the company’s financial decision-making.
The case had attracted significant international attention, with months of diplomatic negotiations between Nigerian and U.S. officials. U.S. lawmakers had lobbied extensively for Gambaryan’s release, citing the absence of direct evidence linking him to the alleged crimes.
Despite these efforts, the court had previously denied him bail twice, considering him a potential flight risk. Gambaryan had been held at Kuje Correctional Facility since his arraignment in April.
The withdrawal of charges marks a surprising turn in the case, effectively ending the legal battle that had drawn attention from both countries and beyond.
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