Binance executive, Gleb Gambaryan, has been detained in Nigeria since February, together with colleague Nadeem Anjarwalla. The two are accused of involvement in illicit transactions and manipulation of the Nigerian naira's exchange rate, as reported by Nigerian authorities. Gambaryan, who is still in custody, is eligible for bail until April 19, according to Cryptopolitan.

Gambaryan's lawyer, Chukwuka Ikuazom, clarified that his client, although jointly charged with his co-defendant, who is currently a fugitive, is not authorized to represent him.

In March, Anjarwalla escaped from custody, and both executives have since taken legal action against the Nigerian Government for human rights violations. The Federal Inland Revenue Service (FIRS) of Nigeria has accused Binance, Gambaryan, and Anjarwalla of tax evasion, while the Economic and Financial Crimes Commission (EFCC) has accused them of money laundering.

Binance is currently under investigation, and Gambaryan has denied any responsibility for the company, stating that he lacked decision-making authority. However, a Nigerian court has proceeded with the lawsuit, arguing that Gambaryan and Anjarwalla had previously collaborated with Nigerian authorities on the company's operations, suggesting they may have acted as its agents.

Justice Emeka Nwite stated that a person without a physical presence in Nigeria but with a physical agent in Nigeria could be served through that agent. Gambaryan has pleaded not guilty to five charges, including one that accuses him, along with Anjarwalla and Binance, of illegal manipulation of foreign exchange rates in Nigeria through the cryptocurrency exchange, which is considered a violation under section 29(1)(C) of the Foreign Exchange(Monitoring and Miscellaneous Provisions) Act.