A Federal High Court in Abuja has once again denied bail to Tigran Gambaryan, a detained Binance executive. The decision, delivered by Justice Emeka Nwite on Friday, has raised many eyebrows amount crypto enthusiasts as well as human rights advocates, and also ignited a fierce debate about justice and healthcare in Nigeria’s legal system.
Gambaryan, arrested earlier this year along with colleague Nadeem Anjarwalla, faces charges of money laundering and currency speculation involving $34.4 million. While Anjarwalla reportedly escaped custody, Gambaryan remains in Kuje Correctional Centre, his health allegedly deteriorating.
The court’s ruling, which deemed the fresh bail application an “abuse of court process,” comes despite impassioned pleas from Gambaryan’s family. His wife, Yuki, claims he suffers from a severe herniated disc, leaving him unable to walk unaided. “It’s unjust to deny someone in Tigran’s condition the opportunity to seek proper medical help,” she stated, fearing irreversible damage.
However, the Economic and Financial Crimes Commission (EFCC) contests these claims, citing reports that Gambaryan refused treatment at the State House Clinic. Justice Nwite, while dismissing the bail request, ordered the Nigerian Correctional Service to refer Gambaryan to a standard Abuja hospital for two to three days under supervision.
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This case has broader implications for Nigeria’s cryptocurrency landscape. A Securities and Exchange Commission director testified that Binance had become a reference point for determining Nigeria’s exchange rate, highlighting the platform’s significant influence on the country’s economy.
As the trial continues, with the next hearings scheduled for October 18, November 22, and November 25, the case raises critical questions about the intersection of technology, finance, and human rights in Nigeria’s evolving digital economy.