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At the Federal High Court in Abuja, Gambaryan pleaded not guilty to money laundering charges leveled against him by the Economic and Financial Crimes Commission (EFCC). Judge Emeka Nwite ordered Gambaryan to be remanded in Kuje prison in Abuja to await the determination of his bail application. The Nigerian government detained Binance executives Nadeem Anjarwalla and Gambaryan in the country on February 28, within the scope of the investigations launched against Binance. Anjarwalla escaped from prison last month, but Gambaryan remained in custody. In February, the Nigerian government blocked access to Binance as part of its efforts to stop illegal money transfers in the country and the devaluation of the local currency, the naira. In Nigeria, the most populous country in Africa with a population of 220 million, the local currency naira is at its lowest level in its history against the dollar. The economy of Nigeria, which has rich oil and natural gas reserves, is negatively affected by problems such as income inequality and attacks by Boko Haram and armed gang members. Some Nigerians living in difficult conditions in their country due to the economic crisis and security problems are trying to reach Europe illegally in the hope of a better life.
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