The Economic and Financial Crimes Commission (EFCC) has updated its $35.4 million money laundering case against Binance Holdings Limited. This development follows the recent discharge of Tigran Gambaryan, the second defendant initially listed in the case.
During a court session on Monday, EFCC counsel Ekele Iheanacho, SAN, informed Justice Emeka Nwite of the need to amend the charges. Iheanacho explained that the revision was necessary to comply with an earlier court directive to organize the legal documents more effectively. Additionally, the amendment reflected the removal of Gambaryan from the case.
“The court’s order has been addressed, and we now seek to proceed with the case against Binance Holdings as the sole defendant,” Iheanacho stated. The counsel for Binance, Okiemute Okwakwa, did not oppose the motion.
Following the procedural requirements of Section 478 of the Administration of Criminal Justice Act (ACJA), 2015, the court read the amended six-count charge to the defendant. Justice Nwite entered a non-guilty plea on behalf of Binance Holdings Limited.
The case, now listed as FHC/ABJ/CR/138/2024, is set for trial continuation on February 24 and 25, 2025. Justice Nwite emphasized the importance of adhering to the legal timeline for an efficient resolution.
This amendment comes weeks after the court’s October 23 decision to release Tigran Gambaryan from custody at Kuje Correctional Centre. Gambaryan’s release followed the EFCC’s withdrawal of charges against him, as confirmed by federal government counsel R. U. Adagba.
