A Federal High Court in Abuja has dismissed the legal challenge brought by former Binance executive Tigran Gambaryan against Nigeria's Economic and Financial Crimes Commission (EFCC). The court ruled against Gambaryan's claims of unlawful detention during the investigation into alleged financial crimes involving the cryptocurrency platform.
Court Rejects Fundamental Rights Claims
Justice Umar Mohammed delivered the ruling on Thursday, November 27, 2025, stating that the court would not interfere with the prosecutorial duties of Nigerian authorities. The judge emphasized that Gambaryan's fundamental rights claims could not override the ongoing investigation into suspected foreign exchange violations and alleged money laundering through the Binance platform.
The EFCC's counsel, Olanrewaju Adeola, successfully argued that Gambaryan's detention was lawful and based on substantial charges of money laundering and foreign exchange violations. Adeola characterized the former Binance chief's lawsuit as a gross abuse of court processes, a position ultimately endorsed by the court through its dismissal of the case.
Background of the Legal Battle
Tigran Gambaryan, who served as Binance's Head of Financial Crime Compliance, had filed the suit against both the EFCC and the office of the National Security Adviser (NSA), Nuhu Ribadu. He sought compensation and costs for what he described as prolonged detention by security operatives.
The detention was connected to the Federal Government's broader investigation into Binance's operations in Nigeria. Authorities have been examining potential money laundering activities and foreign exchange regulation contraventions through the cryptocurrency exchange platform.
Notably, the Federal Government had dropped all money laundering charges against Gambaryan in October 2024, with EFCC lawyers acknowledging that he was merely an employee of Binance rather than a principal actor in the alleged violations. Despite this development, the court has now firmly supported the EFCC's position regarding the legality of his initial detention.
Implications for Cryptocurrency Regulation
This ruling reinforces Nigeria's stringent approach to regulating cryptocurrency operations and investigating potential financial crimes. The court's decision signals judicial support for the EFCC's investigative authority in complex financial cases involving international digital currency platforms.
The case highlights the ongoing tension between global cryptocurrency platforms and national regulatory bodies in Nigeria. As authorities continue to scrutinize digital financial transactions, this ruling may set important precedents for how similar cases are handled in the future.
The dismissal of Gambaryan's suit represents a significant victory for Nigerian anti-corruption agencies in their efforts to maintain oversight of cryptocurrency operations within the country's financial ecosystem.
