During Wednesday's court hearing, a lawyer for the Economic and Financial Crimes Commission said that Gambaryan was merely a regular employee, while the defense argued he was not involved in key financial decisions.
The newspaper reported that the hearing followed months of diplomatic efforts between Nigerian and US officials to secure Gambaryan's release.
Binance is a leading global cryptocurrency exchange and blockchain provider, offering a wide range of financial services and products, including the largest digital asset trading platform by volume.
In March, Nigeria's Federal Inland Revenue Service accused Binance and its executives, Tigran Gambaryan and Nadeem Anjarwalla, of tax evasion, including unpaid VAT and corporate taxes. They were under investigation by the Economic and Financial Crimes Commission for failing to file tax returns and allegedly helping clients evade taxes through the platform.