The Federal High Court in Abuja dismissed a fundamental rights enforcement suit filed by Nadeem Anjarwalla, a high-ranking executive at Binance Holdings Ltd., against Nigeria’s National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC). Justice Inyang Ekwo ruled to dismiss the case due to lack of diligent prosecution, highlighting that neither Anjarwalla nor his legal representatives were present in court when the case was called.
Nadeem Anjarwalla, who was serving as Binance’s Africa regional manager, along with Tigran Gambaryan, a U.S. citizen responsible for overseeing financial crime compliance at Binance, filed separate suits against the NSA and EFCC. They sought court orders for their release from detention and the return of their confiscated international travel passports, claiming these actions violated their constitutional rights under Section 35 (1) and (4) of the 1999 Constitution (as amended).
On March 28, Anjarwalla’s lawyer, Tonye Krukrubo (SAN), had previously requested to withdraw from representing him, which the court granted. The case was adjourned to June 19, but with no legal representation or appearance from Anjarwalla, Justice Ekwo dismissed the suit.
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Adding a dramatic twist, Anjarwalla escaped lawful custody on March 22 and fled to Kenya, leaving his legal challenge unresolved. This action undermined the prosecution of his case, leading to the dismissal by the court.
While Anjarwalla’s case was dismissed, Tigran Gambaryan’s suit remains active. Justice Ekwo has scheduled a hearing for July 9, following a motion by Gambaryan’s lawyer, Krukrubo, to amend their originating process. Despite opposition from the EFCC’s lawyer, Olarewanju Adeola, the court granted the amendment but imposed a fine of ₦50,000 on Gambaryan, payable before the next hearing.
This legal saga highlights the ongoing challenges faced by executives in the cryptocurrency sector in navigating regulatory and legal landscapes. The outcomes of these cases could set significant precedents for the treatment of digital asset executives and the enforcement of financial regulations.
