A Nigerian court in Abuja has rejected a bail request filed by a Binance executive who has been in custody on money laundering charges since February.
The executive sought bail due to ill health, requesting to be transferred to a hospital for treatment. However, the court ruled that the illness did not justify granting bail.
The Executive’s ill-health bail plea was rejected
On Friday, the Federal High Court in Abuja dismissed the bail plea submitted by Tigran Gambaryan, Binance’s former head of financial crime compliance, citing insufficient medical grounds. Gambaryan’s legal team argued that his health had worsened during his detention, and he needed specialized medical treatment for a herniated disc in his back, which severely impaired his ability to walk. Despite this, the court maintained that his condition did not warrant release, as it did not pose a risk to others, and alternative arrangements such as quarantine could be considered.
Family and legal team concerned over health
Gambaryan’s family and legal representatives have expressed grave concern over his declining health. His family claims that he has faced multiple health issues since his arrest and that his condition requires urgent medical attention. A medical report released by his wife in July detailed the severity of his back condition and recommended surgery. Nonetheless, Nigerian authorities have not altered their stance, with officials stating that Gambaryan was stable. His lawyer, Mark Mordi, continues to push for his release, citing his deteriorating health.
U.S. lawmakers advocate for the release
Tigran Gambaryan’s detention has drawn international attention, with U.S. lawmakers, including Congressman Rich McCormick, calling for his immediate release. McCormick has been vocal in defending Gambaryan, describing his detention as unjust. The U.S. Congress Foreign Affairs Committee recently voted on a resolution urging the Nigerian government to release the executive, though no change in his legal status has followed.
Gambaryan and a fellow Binance executive, Nadeem Anjarwalla, were initially detained in February when they traveled to Nigeria to negotiate with authorities regarding the country’s ban on cryptocurrency exchanges. While tax evasion charges were dropped, Gambaryan remains in custody, facing allegations of money laundering. Anjarwalla reportedly escaped custody during a visit to a mosque and fled the country using a Kenyan passport. Nigerian officials had confiscated his British passport at the time of his arrest.
The crackdown on Binance and other cryptocurrency platforms comes after Nigeria’s currency crisis. In January, the naira experienced a sharp 29.9% devaluation, prompting the government to take strict measures against crypto exchanges operating in the country. Gambaryan’s legal battle continues as his health remains a focal point of concern for both his family and legal team.