A federal high court in Abuja has summoned the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before it on September 2, regarding the money laundering case against Binance Holdings Limited and its executives. The court has also requested specific documents, including an excel spreadsheet on exchange rate results, to be produced on the same day.
This development comes after the Economic and Financial Crimes Commission (EFCC) arraigned Binance and Tigran Gambaryan in April over allegations of money laundering. Additionally, the Federal Inland Revenue Service (FIRS) is prosecuting Binance for tax evasion.
The court’s subpoena, titled “Subpoena Duces Tecum,” commands Cardoso to appear before the court or delegate someone to bring the required documents. The CBN’s head of legal services department has also been summoned.
Binance’s CEO, Richard Teng, has called for the release of Gambaryan, stating that the federal government is using “baseless allegations” to hold him in custody. Binance looks forward to working with the government once the issues have been resolved.
This case highlights the ongoing regulatory scrutiny of cryptocurrency firms in Nigeria, with the EFCC and FIRS investigating Binance for alleged money laundering and tax evasion. The court’s summons to the CBN governor indicates a deepening probe into the matter.
