Nigerian Court Postpones Bail Ruling for Detained Binance Executive Tigran Gambaryan Until Oct. 9

Judge Emeka Nwite issued the ruling on Sept. 4 after hearing arguments from both Gambaryan's lawyer, Mark Mordi, and the prosecuting counsel

A Nigerian court has postponed its decision on the bail application for detained Binance executive Tigran Gambaryan until Oct. 9.

Judge Emeka Nwite issued the ruling on Sunday after hearing arguments from both Gambaryan’s lawyer, Mark Mordi, and the prosecuting counsel, Ekele Iheanacho, who opposed the bail request.

Gambaryan, an American citizen, was arrested on April 29 by the Economic and Financial Crimes Commission (EFCC) for allegedly operating an unlicensed cryptocurrency exchange in Nigeria. He has been in detention since then.

On Sept. 2, Gambaryan’s lawyer submitted a new bail application, citing medical reasons and his worsening health conditions. Gambaryan reportedly suffers from malaria, pneumonia, tonsillitis, and complications from a herniated disc, which have severely impacted his ability to walk.

Due to this, Modi requested that the court grant Gambaryan bail for six weeks to treat himself.

“The health of the 1st defendant has continued to deteriorate and worsen in custody. He now suffers from malaria, pneumonia, and tonsillitis. He also has complications from a herniated disc, which have affected his ability to walk.

“We have attached a medical report from the Nizamiye Hospital, Abuja, and a sworn affidavit from Dr. Mustapha Magaji in support of this application. We urge the court to grant the 1st defendant bail for six weeks to enable him to treat himself.”

However, the prosecuting counsel, Iheanacho, countered the bail application, arguing that the court had earlier dismissed a similar application on the grounds that Gambaryan posed a flight risk. He added that the prosecution was yet to conclude its investigations.

“My Lord, the prosecution is opposing this bail application. The court had earlier dismissed a similar application on the grounds that the 1st defendant was a flight risk.

“The prosecution is also yet to conclude its investigations. We, therefore, urge the court to dismiss this application and allow the prosecution to continue its investigations.”

After hearing the arguments from both parties, Judge Nwite adjourned the proceedings until Oct. 9 for a ruling on the bail application.

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