Binance chief loses suit against NSA, EFCC

Justice Inyang Ekwo of the Federal High Court in Abuja dismissed a fundamental rights enforcement suit filed by Nadeem Anjarwalla, the Africa Regional Manager of Binance Holdings Limited, against the National Security Adviser and the Economic and Financial Crimes Commission on Wednesday.

Justice Ekwo’s brief ruling dismissed the case, stating that the plaintiff had not shown adequate diligence in pursuing the suit.

At the March 28 sitting, the judge granted Tonye Krukrubo’s (SAN) request to withdraw as counsel for Anjarwalla in the matter.

He said the matter was adjourned until Wednesday for mention but no lawyer appeared for the applicant.

He said the matter was adjourned until Wednesday for mention but no lawyer appeared for the applicant.

Justice Ekwo, however, granted Krukrubo’s request to amend his application.

He held that parties, by law, were entitled to amend their processes before judgment.

“I am minded to grant this amendment,” he said.

The court, however, fined Gambaryan the sum of N50,000 to be paid to the EFCC for joining issues in the matter.

Justice Ekwo held that the fine must be paid before the next adjourned date of July 9.

Both Anjarwalla and Gambaryan, in their separate fundamental rights enforcement applications, sought a declaration that their detention and the seizure of their international travel passport contravened Section 35 (1) and (4) of the 1999 Constitution (as amended).

They claimed the act amounted to a violation of their fundamental rights to personal liberty as guaranteed by the constitution, among others.

Anjarwalla and Gambaryan, who are employed by Binance, a cryptocurrency exchange platform, are citizens of the United States.

The EFCC and Federal Inland Revenue Service have filed charges against Anjarwalla, Gambaryan, and their company, alleging money laundering and tax evasion.

After their initial arrest, Anjarwalla and Gambaryan were held in NSA custody, but Anjarwalla escaped from lawful custody on March 22, 2024, and fled to Kenya.