Odaily Planet Daily News Olubukola Akinwummi, a senior official of the Central Bank of Nigeria (CBN), testified at a court hearing in Abuja that Binance was operating without a license in the country. During the questioning of Akinwummi by the prosecution led by EFCC adviser Ekele Iheanacho, Akinwummi stated that the CBN did not issue any license to Binance. "Binance provides a platform for traders to trade between naira and cryptocurrencies, and to make payments between one cryptocurrency and another cryptocurrency... They also facilitate conversions between two fiat currencies... Such services require authorization from the central bank, either as an authorized dealer or as a currency exchange." In addition, Binance executive Tigran Gambaryan faces money laundering charges. He was arrested by Nigerian authorities in February 2024 and was later released due to deteriorating health. In a previous hearing, he suddenly fell ill in court and was diagnosed with malaria. This prompted American politicians to lobby President Biden to release Gambaryan. Judge Emeka Nwite accused the prosecution and prison officials of delaying the trial, further escalating tensions. He ordered them to submit medical reports before the next court session, scheduled for July 16. However, prison officials insisted that Gambaryan's health condition was not serious. (Coin Edition) Earlier, Nigerian prison officials said on Thursday that Tigran Gambaryan, a Binance executive detained locally, did not have "serious health conditions" and was "in good condition" during detention. Gambaryan's family has insisted in recent weeks that his health is continuing to deteriorate, but a spokesman for the Nigerian Correctional Service (NCoS) insisted that the prison can meet Gambaryan's health needs.
