CBN Governor Summoned by Federal High Court over Money Laundering Case Involving Binance Executives

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has been summoned by a Federal High Court in Abuja to appear on Monday, September 2. This summons is part of an ongoing money laundering case involving Binance Holdings Limited and its executives.

The court order, presided over by Honourable Justice E. Nwite, mandates Cardoso to bring specific documents, including a "Certified True Copy of the Excel spreadsheet captioned ‘Export Exchange Rate Results’ published on the Central Bank of Nigeria’s website for the period from 1 June 2024 to 16 August 2024."

The case, initiated by the Economic and Financial Crimes Commission (EFCC), implicates Tigan Gambaryan, Binance USA’s Head of Financial Crime Compliance and Nadeem Anjarwalla, the exchange’s British-Kenyan regional manager for Africa, in money laundering activities amounting to $35 million. Both executives were initially detained by the Office of the National Security Adviser (ONSA). However, Anjarwalla reportedly escaped custody on March 22, 2024, while Gambaryan was transferred to Kuje Correctional Facility, where he remains detained.

Justice Emeka Nwite had previously adjourned the case, and the defence counsel requested a change of date, which was granted. The new date for the continuation of the trial is set for September 2.