The federal government has withdrawn the money laundering charges filed against Tigran Gambaryan, an executive of Binance Holdings Limited.
In April, the Economic and Financial Crimes Commission (EFCC) arraigned Binance, a cryptocurrency firm, and Gambaryan, on allegations of money laundering.
Gambaryan has been in detention since February following the clampdown on Binance over alleged manipulation of the Nigerian currency.
At the resumption of hearing on Wednesday at the federal high court in Abuja, R U Adaba, the lawyer representing the EFCC, announced the decision of the federal government to withdraw the charges.
Adaba said Gambaryan is just an employee of the cryptocurrency firm and was not involved in the offences allegedly committed by the company.
Responding, Mark Mordi, Gambaryan’s counsel, said his client does not get involved in the financial decisions of the cryptocurrency firm.
In June, the Federal Inland Revenue Service (FIRS) dropped the tax evasion charges against Gambaryan.
The federal government had detained Gambaryan and Nadeem Anjarwalla, the Binance regional manager, over the activities of the cryptocurrency firm.
In March, Anjarwalla escaped from the custody of the office of the national security adviser (ONSA), leaving only Gambaryan to face the charges.
Gambaryan’s wife had repeatedly written to the federal government to release her husband, adding that his health has been deteriorating.
In June, two members of the United States congress paid a visit to Gambaryan at the Kuje Correctional Centre in Abuja.
Subsequently, US lawmakers urged President Joe Biden to help secure the release of the executive.
The federal high court has twice rejected Gambaryan’s bail plea.
