Cryptocurrency trading platform, Binance has described the continued detention of one of its executives, Tigran Gambaryan by the Nigerian government as lacking in merit.

It had reported how a Federal High Court in Abuja on Monday remanded Tigran Gambaryan, at the Kuje Correctional Centre, pending the determination of his bail application.

The remand order was given by the trial judge, Justice Emeka Nwite after Gambaryan pleaded not guilty to the money laundering charges preferred against him by Nigeria’s anti-graft agency, Economic and Financial Crimes Commission (EFCC).

 

The judge subsequently adjourned the case till April 18 for a verdict on his bail application and May 2 for the start of the trial.

A press statement issued by the company’s spokesperson described the remand as outrageous and urged the Nigerian government to immediately free him.

The statement read, “We are deeply disappointed that Tigran Gambaryan, who has no decision-making power in the company, continues to be detained. Tigran has been dedicated to public service and fighting crime for most of his life. These charges against him are meritless.

“It’s outrageous that he would be remanded in a prison such as Kuje Correctional Facility.

“Tigran has been detained for almost two months, after travelling to Nigeria by invitation of the government. He should be freed while discussions continue between Binance and Nigerian government officials,” the Binance Spokesperson added.

The Nigerian government had taken Binance Holdings Limited and its two officials, Tigran Gambaryan and Nadeem Anjarwalla (now at large) to court on allegations bordering on tax evasion and money laundering.