Court Throws Out Binance Executive’s Compensation Suit, Says Rights Claims Cannot Halt Criminal Probe

Abuja, Nigeria- The Federal High Court in Abuja on Thursday dismissed a compensation suit filed by Tigran Gambaryan, the former Head of Financial Crime Compliance at Binance, against the Office of the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC).

The court ruled that his detention was tied to an ongoing criminal investigation and not a violation of his fundamental rights.

Justice Umar Mohammed, in a judgment that mirrored the court’s tough stance on economic crimes, held that Gambaryan’s application was a veiled attempt to “interfere” with the investigative and prosecutorial powers of Nigerian authorities probing alleged foreign exchange infractions and money laundering linked to Binance.

Gambaryan, an American citizen, had asked the court to award damages against the NSA and EFCC over what he described as “prolonged and unlawful detention.”

He argued that his February 26 to 27, 2024, detention, as well as his remand between March 12 and April 8, caused “immense hardship and emotional stress” to him and his family.

His lawyers maintained that he was merely in Nigeria with colleague Nadeem Anjarwalla to meet government officials and did not hold any decision-making authority as a board member of Binance.

But the EFCC pushed back. Counsel Olanrewaju Adeola told the court the suit was nothing short of “a gross abuse of court process,” pointing to ongoing criminal proceedings in Suit and Charge No. FHC/ABJ/CR/138/2024: Federal Republic of Nigeria v. Binance Holdings Ltd & Anor.

The anti-graft agency maintained that Gambaryan was lawfully remanded while authorities investigated suspected money laundering and foreign exchange violations.

Justice Umar noted that the criminal charges are still pending before Justice Emeka Nwite, who had earlier refused Gambaryan bail on grounds that he posed “a flight risk.”

The court reiterated that “fundamental rights are not absolute” and may be restricted when the state is conducting lawful investigations.

“No court has the power to stop the investigative powers of the police or EFCC,” Justice Umar ruled, dismissing Gambaryan’s suit in its entirety and describing it as an abuse of judicial process.