The Federal High Court is set to hear the money laundering case against cryptocurrency exchange Binance and two of its executives next week, with the hearing now scheduled for September 2, 2024.
This is earlier than the initially planned date of October 11, 2024, following a request by the defence lawyers, as reported by Reuters.
The case involves Binance, its U.S. head of financial crime compliance, Tigan Gambaryan, and the exchange’s British-Kenyan regional manager for Africa, Nadeem Anjarwalla.
They face charges related to laundering over $35 million and accusations of tax evasion. Binance, the largest cryptocurrency exchange globally, has denied these charges.
Anjarwalla has fled Nigeria, while Gambaryan has been detained since February, with his health reportedly deteriorating in prison.
His wife, Yuki Gambaryan, has appealed to both the Nigerian and U.S. governments for his release on health grounds.
The Nigerian government has criticised Binance for contributing to the country’s currency weakness, particularly as cryptocurrency exchanges have become prominent platforms for trading the naira amidst a dollar shortage.
Binance had ceased naira transactions in March following a crackdown on crypto exchanges blamed for fuelling a black market for foreign exchange.
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