General
Binance Executive Tigran Gambaryan Leaves Nigeria
By Modupe Gbadeyanka
Barely 24 hours after the federal government dropped the money laundering charges against him on Wednesday, an executive of Binance, the world’s biggest cryptocurrency exchange, Mr Tigran Gambaryan, has left the shores of Nigeria.
Mr Gambaryan was detained by the Nigerian authorities after he honoured an invitation in February 2024 along with another member of staff of his organisation, Mr Nadeem Anjarwalla.
They were both detained on arrival to the country, but the latter absconded and has been declared as a fugitive.
Mr Gambaryan was arraigned before a Federal High Court in Abuja along with Binance on charges bordering on money laundering and tax evasion.
Despite efforts by his company and his family to secure his release, the Nigerian government refused to free him until Wednesday when the Economic and Financial Crimes Commission (EFCC) informed the court that it was withdrawing the case ahead of trial on Friday (today).
In a message on Thursday, Binance confirmed that Mr Gambaryan, who has suffered worsening health while in detention, has departed Nigeria after eight months to reunite with his family.
“Today, American citizen Tigran Gambaryan left Nigeria to return home to his family after eight months of unlawful detention.
“Gambaryan was allowed to leave Kuje prison last night. His health has suffered significantly while in prison. He will now be able to finally receive the medical attention he desperately requires,” a part of the statement said.
His wife, Mrs Yuki Gambaryan, described the “past eight months” as a “living nightmare,” saying she wished “it hadn’t taken this long for his release or that his health had not declined so much, but we can now focus on healing as a family,” noting that there were moments she “feared this day would never come, but Tigran’s supporters gave me hope and strength.”
Mrs Gambaryan thanked, “The US government for their efforts in securing his release. I also want to thank everyone who helped us throughout this ordeal,” noting that, “The road ahead for Tigran’s recovery is going to be difficult, and I appreciate being given the time and space to focus on that. Our children cannot wait to see their dad again.”
By Modupe Gbadeyanka
One Mr Daniel Ameh living in Abuja has convicted and sentenced to two years imprisonment for duping one Mr Inalegu Egwa of the sum of N35 million.
While delivering judgement on Monday, May 5, 2025, Justice S. M. Mayana of the Federal Capital Territory (FCT) High Court in Apo, Abuja, however, gave the convict an option of N1 million fine.
Mr Ameh found himself before the judge after the Economic and Financial Crimes Commission (EFCC) arraigned him on a one-count charge bordering on criminal misappropriation.
The commission said the offence was contrary to Section 309 of the Penal Code and punishable under the same section and to which he pleaded “not guilty.”
During the trial, the prosecution counsel, Mr Ibrahim Buba, presented three witnesses and tendered relevant documents, which convinced the judge, who passed the judgement.
Mr Ameh was directed by Justice Mayana to pay the sum of N22 million, in restitution to his victim.
Investigation revealed that in 2021, Mr Ameh advised Mr Egwa to register a Bureaux de Change (BDC) company, which the victim agreed and engaged the convict to do the registration for him in the Corporate Affairs Commission (CAC) and to apply for the relevant licence from the Central Bank of Nigeria (CBN).
Mr Egwa paid the sum of N36 million through the convict’s bank account for remittance to the CBN, but in 2022, the apex bank announced the cancellation of BDC registrations and directed all affected applicants to forward their account details for refund of payments they made.
Rather than inform Mr Egwa of the new development for the channelling of the refund accordingly, Mr Ameh kept his victim in the dark, received the money in his personal account and converted it to his use.
As part of its continued commitment to sustainability, Access Holdings PLC will be amongst the leading participants in the United Nations Environment Programme Finance Initiative (UNEP FI) Regional Roundtable on Sustainable Finance for Africa and the Middle East.
Taking place from May 6-7, 2025, in Marrakech, Morocco, the event will bring together regulators, policymakers, and key stakeholders from the financial sector to discuss and shape critical sustainability issues, including climate mitigation and adaptation, nature-positive finance, just transition and financial inclusion, carbon finance, among others.
The Chief Brand and Communications Officer of Access Holdings; Amaechi Okobi; the Group Head of Credit Administration, Governance andProject Monitoring, Edmund Otaigbe; and Group Head of Products and Segments, Njideka Esomeju, will be contributing insights from their extensive experience in driving sustainability within the financial sector.
Among the discussions will be sessions dedicated to accelerating the transition of real economy sectors towards sustainability, addressing climate risks, and ensuring financial inclusion.
One of the focal points will be how financial institutions can support climate adaptation and resilience, particularly in vulnerable sectors across Africa and the Middle East. The event will further tackle the challenge of unlocking private finance for the Sustainable Development Goals (SDGs), exploring innovative ways to align capital flows with regional sustainability needs.
Other high-level dialogues will explore regional collaboration to support sustainability goals, advancing action on climate adaptation, and the regulatory developments promoting sustainable finance across the region.
Panels will focus on topics such as financing and insuring MSMEs for climate resilience and fostering an inclusive transition by ensuring that vulnerable communities and underserved populations are not left behind in the push for green growth.
Prominent speakers at the event include Mahmoud Mohieldin, UN Special Envoy on Financing the 2030 Agenda; Louise Gardiner, Senior Operations Officer at the International Finance Corporation (IFC); Lily Burge, Policy Manager, Climate Bonds Initiative; Samuel Tiriongo, Director of Research and Policy, Kenya Bankers Association; Walid Ali, General Manager, Sustainability Department, Central Bank of Egypt; Yasser Mounsif, Director of Issuers, Moroccan Capital Market Authority, alongside other leaders in sustainable finance.
The UNEP FI Regional Roundtable promises to be a critical platform for deepening collaboration among stakeholders across Africa and the Middle East, with the shared goal of creating a resilient, sustainable future for the region.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) says it has granted popular social media activist, Mr Martins Innocent Otse, otherwise known as VeryDarkMan (VDM) an administrative bail.
VDM was apprehended in the premises of GTBank in Abuja last weekend after he was at the bank to question why the account of his mother was debited for a loan she did not apply for.
It was reported that VeryDarkMan was blindfolded and beaten by security operatives who came for him.
Since his arrest, there have been claims that some powerful persons instigated the EFCC to pick him up because of his criticisms online.
In a statement on Tuesday, the anti-money laundering agency said it apprehended VDM over “grave allegations of financial malfeasance.”
The agency said it received petitions against the suspect, adding that it obtained an order to keep him beyond the 24 hours stipulated by the Constitution.
However, the EFCC said it have granted him an administrative bail, with VDM still making efforts to meet for his eventual release.
“The EFCC has a lawful right to hold Otse in custody like any other suspect being investigated by the Commission. The appropriate Remand Order was obtained in this regard. He has been offered an administrative bail and would be released after fulfilling all the bail conditions.
“The commission appreciates the interest of Nigerians in its operations. The passion, enthusiasm and torrential reactions to all of its activities are welcome.
“However, insinuations about its motive in carrying out its assignment should no longer continue. The EFCC should be allowed to do its job without fear or favour. As soon as investigations are concluded, charges will be filed,” the statement said.
The commission said it acted the way it did because the suspect “refused to show up in spite of several invitations sent to him through his known addresses and medium of communication.”
It was stated that the petitions pertain to grave allegations of financial malfeasance which cannot be ignored by the commission” because it has the mandate of “tackling economic and financial crimes.”
Since his arrest a few days ago, there have been calls, including from outside the country, for his release
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