Binance executive’s bail appeal fails again, leading to continued detention

Binance executive Tigran Gambaryan’s bail application hearing at the Federal High Court in Abuja, Nigeria has been postponed once again. Originally scheduled for April 18, the hearing has been rescheduled for April 22, according to local news agency Nairametrics. During the court session, the Economic and Financial Crimes Commission (EFCC) informed the court that Gambaryan’s lawyer had submitted an additional affidavit to his bail application on April 16. Senior counsel E. Iheanacho highlighted new points raised by the defense, necessitating additional time for a proper response in the interest of justice. The judge, Justice Emeka Nwite, agreed to postpone the proceedings. However, Gambaryan’s lawyer, Mark Mordi, criticized the prosecution for failing to file a response to the additional affidavit submitted with the bail application. The Binance executive has been held in federal government custody for over 14 days. The EFCC has accused Gambaryan, Binance, and Nadeem Anjarwalla of concealing the source of $35.4 million revenue in Nigeria, claiming it was proceeds from illegal activities. Gambaryan has pleaded not guilty to the money laundering charges. The court has allowed the EFCC to hold the Binance executives for 14 days and has ordered Binance to provide the government with access to data and details of Nigerian traders using its platform. In addition to the ongoing lawsuits related to tax evasion and money laundering, Gambaryan is also suing the government for violating his fundamental human rights. He claims that his detention in Nigeria and the seizure of his passport violate the country’s constitution, which guarantees the right to personal liberty. Gambaryan, along with Nadeem Anjarwalla, was arrested on February 28 during a visit to Nigeria after the government banned cryptocurrency channels as part of its efforts to curb currency speculation. Anjarwalla managed to escape detention using a fake passport.