Nigerian Court Denies Bail to Binance Senior Executive

A Nigerian court has denied bail to senior Binance executive Tigran Gambaryan, who faces money laundering charges. Detained at Kuje Correctional Center since February 2024, Gambaryan has struggled to secure his release. His defense team cited his worsening health, including a severe herniated disc requiring surgery unavailable in Nigeria’s prison system.

Justice Emeka Nwite of the Federal High Court in Abuja rejected the latest bail request, ruling it an abuse of the Nigerian court process due to his ongoing appeal. The court ordered treatment at an Abuja hospital, stating that the prison system could handle his medical needs.

Gambaryan was initially charged with money laundering and tax evasion, though the latter was dropped in June. Binance executives, including CEO Richard Teng, have condemned his detention, warning it sets a dangerous precedent for businesses in Nigeria. International pressure, particularly from U.S. lawmakers, continues to mount for his release.