Court to Rule on Binance Executive’s Bail Over Health Concerns Oct 9

A Federal High Court sitting in Abuja has set October 9 as the date to deliver its ruling on a bail application filed by Tigran Gambaryan, an executive of Binance Holdings Limited, over ‘serious’ health concerns.

The decision was announced by the presiding judge, Justice Emeka Nwite, following arguments from both sides: Mark Mordi, the defense counsel representing Gambaryan, and Ekele Iheanacho, the prosecution counsel.

Iheanacho is firmly opposing the bail request, which is based on claims of Gambaryan’s deteriorating health.

Gambaryan, a key executive at Binance, a prominent cryptocurrency exchange, was arraigned in April by the Economic and Financial Crimes Commission (EFCC) on charges related to money laundering.

His initial bail application was denied on May 17. Shortly after, on May 23, Gambaryan reportedly collapsed in court due to what his defense team described as “ill-health.”

The executive’s legal team, along with his family, has expressed serious concerns about his health, warning that he might not survive if his condition continues to worsen while in Kuje prison.

His wife, Yuki Gambaryan, also stated that her husband’s health is deteriorating rapidly, emphasising that he requires “highly specialised and risky surgery” to treat a herniated disc in his back.

The ongoing health issues have led Judge Nwite issuing an arrest warrant on July 30 for Abraham Ehizojie, a medical doctor at the Kuje Correctional Center, after he failed to submit a medical report on Gambaryan’s condition.

On September 2, the EFCC contested the claims about Gambaryan’s health status, with Iheanacho filing a counter affidavit in response to the latest bail application.

Mordi, representing Gambaryan, had filed this new application on August 28, reiterating the urgent need for his client’s release on medical grounds.

Meanwhile, on September 3, Binance publicly appealed to the Nigerian government, urging the release of Gambaryan due to his “rapidly” declining health.