Nigerian govt drops money laundering charges against Binance executive

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Nigerian govt drops money laundering charges against Binance executive

The federal government has withdrawn the money laundering charges filed against an executive of Binance Holdings Limited, Tigran Gambaryan.

It was recalled that the Economic and Financial Crimes Commission, EFCC had in April this year, arraigned Binance, a cryptocurrency firm, and Gambaryan over alleged money laundering.

Mr Gambaryan, a United States citizen, has been in detention since February following the clampdown on the cryptocurrency firm over alleged manipulation of naira.

A lawyer representing the EFCC announced the withdrawal of the charges at the Federal High Court in Abuja on Wednesday.

Announcing the development, the lawyer said Mr Gambaryan was merely an employee of Binance, whose activities he was being prosecuted for.