The Federal High Court in Abuja has delivered a significant ruling in the high-profile case involving former Binance executive Tigran Gambaryan and Nigerian authorities, completely dismissing his legal challenge against the Economic and Financial Crimes Commission (EFCC) and the National Security Adviser (NSA).
Court Rules Against Former Binance Executive
Justice Mohammed Umar, presiding over the case marked FHC/ABJ/CS/356/2024, determined that Gambaryan's suit lacked merit and constituted an abuse of judicial process. The ruling, delivered on Thursday, November 27, 2025, represents a major victory for Nigerian investigative agencies probing alleged financial crimes involving the cryptocurrency platform.
The court found that Gambaryan failed to provide sufficient evidence demonstrating that his fundamental rights had been violated during his detention by Nigerian authorities. Justice Umar emphasized that the applicant could not use fundamental rights claims to obstruct legitimate investigations into serious financial crimes.
Investigations Continue Unhindered
Justice Umar firmly established that both the EFCC and NSA acted within their statutory mandates when investigating Binance and its officials. The court reinforced that no judicial authority has the power to stop the investigative functions of these agencies when pursuing potential financial crimes.
The ruling confirmed that criminal charges against Binance Holdings Limited remain active and ongoing, with Gambaryan having been properly arraigned before trial Justice Emeka Nwite. The court noted that Gambaryan remains in custody at a correctional facility after his bail request was denied due to concerns about him being a flight risk.
National Security Concerns Take Precedence
The judgement highlighted that the NSA's office acted based on concrete intelligence reports suggesting unlawful transactions by Binance and its officials. Justice Umar stressed that fundamental rights are not absolute and may be reasonably restricted when national security interests are at stake.
Both Gambaryan and his colleague, Nadeem Anjarwalla, were arrested over allegations involving money laundering and terrorism financing. While Gambaryan remained in custody, Anjarwalla, who served as Binance's Africa Regional Manager, managed to flee to Kenya despite authorities seizing his passport.
The Federal Government's investigation into Binance continues, with the cryptocurrency exchange having been ordered to provide the EFCC with comprehensive records of all Nigerian users and six months of transaction history. This directive followed concerns raised by the Central Bank of Nigeria that approximately $26 billion had passed through the platform from unidentified sources.
The case has drawn significant attention to Nigeria's regulatory approach to cryptocurrency platforms and the government's determination to combat financial crimes through established legal channels.
