Binance Executive Tigran Gambaryan Sues Nigerian Government

Amidst Nigeria’s crackdown on cryptocurrency, Tigran Gambaryan, a detained Binance executive, has filed a lawsuit against the Nigerian government.

Allegations of Rights Violation

Gambaryan claims that his detention and passport confiscation violate Nigeria’s constitution. He alleges that he was invited to discuss Binance’s operations in Nigeria and did not commit any offenses.

Demands for Release and Compensation

In his lawsuit, Gambaryan seeks:

  • Immediate release from custody
  • Return of his passport
  • A permanent injunction against further detention
  • A public apology from the government

Binance Faces Tax Evasion Charges

Separately, the Nigerian government has filed tax evasion charges against Binance, with Gambaryan as a defendant. The charges include non-payment of taxes and aiding customers in tax evasion.

Regulatory Scrutiny

These lawsuits and charges highlight the growing regulatory scrutiny faced by cryptocurrency exchanges in Nigeria. The outcome of these cases remains uncertain.

Binance Coin Price Trend

Despite the legal challenges, Binance Coin (BNB) has been performing well, showing a consistent upward trend over the past month. It is currently trading at $617, close to its previous all-time high of $686.