Bail Ruling Postponed
The Federal High Court in Abuja has postponed the ruling on the bail application of Tigran Gambaryan, a senior executive at Binance Holdings Limited. Justice Emeka Nwite’s absence, as he attended a seminar at the National Judicial Institute, delayed the ruling initially scheduled for October 9. As a result, the court has rescheduled the ruling for October 11, 2024.
EFCC Opposes Bail
The Economic and Financial Crimes Commission (EFCC) had earlier expressed strong opposition to Gambaryan’s bail request. During the hearing on September 4, EFCC’s counsel, Ekele Iheanacho, argued that Gambaryan was receiving adequate medical care while in custody. The EFCC highlighted that the Nigerian Correctional Service (NCoS) had facilitated his treatment at reputable facilities, including the State House Clinic.
Dispute Over Health Concerns
Mark Mordi, leading Gambaryan’s legal team, contended that the Nigerian healthcare system was not properly addressing the executive’s health condition. Mordi stressed that medical reports indicated the need for treatment that could not be provided locally, urging the court to consider a more lenient bail arrangement.
Health Care Controversy
Iheanchao of the EFCC dismissed the claims regarding Gambaryan’s health, insisting that the NCoS had met all necessary medical obligations. The prosecution argued that Gambaryan’s health concerns were exaggerated and intended to secure bail under false pretences. However, the defence continued to push for bail on liberal terms or, at minimum, a six-week medical leave abroad.
Awaiting the Final Decision
With both sides presenting their arguments, the court must now deliberate on whether to grant the bail request. The final decision will be delivered on October 11, bringing much-anticipated closure to the ongoing legal battle between Binance’s senior executive and the Nigerian authorities.
Global Attention on the Case
The case has drawn international attention due to the stature of Binance and its executives in the global cryptocurrency landscape. The outcome of this legal battle could have significant implications for the wider regulatory environment surrounding cryptocurrency in Nigeria and beyond.
Follow us on Socials: