Executives Tigran Gambaryan and Nadeem Anjarwalla from Binance have taken legal action against Nigerian officials following their detention in the country. They assert that their fundamental human rights were violated and are seeking their immediate release, the return of their passports, and an official apology.

Initiating Separate Legal Actions

Local reports indicate that the executives have filed two separate legal claims with the Federal High Court in Abuja. They have named National Security Advisor Nuhu Ribadu and the Economic and Financial Crimes Commission as the respondents in their legal battle. The lawsuits aim to secure court-ordered releases, passport retrieval, and public apologies.

The arrest of the executives came after tax evasion accusations were made against them and Binance by Nigerian authorities. Additionally, a previous report suggests that Anjarwalla had left the country the week before. The Central Bank of Nigeria’s Governor, Olayemi Cardoso, raised concerns about Binance's impact on the stability of the Nigerian naira due to significant, unmonitored currency movements on the platform.

Upcoming Court Hearing in Early April

During the last hearing on March 28, the accused Nigerian entities were not present, resulting in a rescheduling of the case to April 8. This legal dispute underscores the challenges faced by cryptocurrency companies in jurisdictions with strict regulatory frameworks and evolving legal systems.

This lawsuit highlights the broader discussion on upholding human rights while enforcing cryptocurrency regulations. With the rapid expansion of the crypto industry globally, compliance issues and legal conflicts are becoming more prevalent. The outcome of this case will be crucial for cryptocurrency exchanges to navigate their relationships with international regulators and governments.