Nadeem Anjarwalla’s Legal Setback
In a noteworthy decision, the Federal High Court in Abuja has rejected the Binance executive’s lawsuit against the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC). Nadeem Anjarwalla, an executive at Binance Holdings Limited, filed a lawsuit against the NSA and the EFCC, for violation of human right. Anjarwalla, who serves as the Africa Regional Manager for Binance, faces a critical juncture in his ongoing legal dispute following this court ruling.
Dismissal Due to Lack of Prosecution
Justice Inyang Ekwo presided over the case and ruled on Wednesday to dismiss the fundamental rights enforcement suit due to a lack of diligent prosecution. The judge noted that Anjarwalla’s lawyer, Tonye Krukrubo (SAN), had earlier requested to withdraw from the case, a request that the court approved. Consequently, when the case was called on Wednesday, no legal representative appeared for Anjarwalla.
Separate Suits Filed by Binance Executives
Both Anjarwalla and his colleague, Tigran Gambaryan, had filed separate human rights enforcement suits against the NSA and EFCC. They sought orders to release them from detention. The suits, marked FHC/ABJ/CS/355/24 and FHC/ABJ/CS/356/24, named the ONSA and EFCC as respondents. During the proceedings, Krukrubo, representing Gambaryan, moved to amend his client’s originating process, which the EFCC’s lawyer opposed. However, Justice Ekwo granted the amendment request, emphasising the legal right to amend processes before judgment.
Violation of Fundamental Rights Claimed
The Binance executives argued that their detention and the seizure of their international travel passports violated their fundamental rights. They cited Section 35 (1) and (4) of the 1999 Constitution (as amended), claiming that the authorities infringed on their right to personal liberty. Despite these claims, the court fined Gambaryan N50,000, which he must pay to the EFCC for procedural issues.
Charges of Money Laundering and Tax Evasion
Anjarwalla and Gambaryan, both US citizens, face serious charges involving money laundering with the EFCC and tax evasion with the Federal Inland Revenue Service. Their arrest led to their detention by the NSA. Notably, Anjarwalla managed to abscond from custody and fled to Kenya on March 22, 2024, adding another layer of complexity to the case.
Next Steps in Legal Proceedings
The court has adjourned further hearings to July 9, giving time for the fine to be settled. As this high-profile case conhttps://www.penagencynews.com/binance-relieved-as-fg-drops-tax-charges-against-executives/tinues, it underscores the legal challenges and serious allegations faced by top executives in the crypto industry.
Follow us on Socials: