Turmoil in Abuja: Binance executive's bail hearing in Nigeria delayed

Tigran Gambaryan, a senior executive of Binance, would therefore remain under continued incarceration in Nigeria, since his bail hearing has been postponed to May 17. His money laundering case trial coming up shortly is said to be the reason for the adjournment at the instance of the Abuja court, which wants to take up the matter of his bail application post the trial.

Binance and the Woes in Abuja Binance's Financial Crime Compliance is headed by Gambaryan, an American and former Internal Revenue Service agent. Anjarwalla, who is the regional manager for Africa at Binance and holds UK and Kenya citizenship, was arrested on February 26. It's an arrest that came very shortly after their arrival here in Abuja and, as a matter of fact, they were due to meet with some of these officials whom, accordingly to the indictment, they had conspired with to commit their crime.

The Nigerian government had initially accused Binance of allowing them to speculate on currency to the detriment of the Nigerian Naira.

Although Gambaryan and Anjarwalla were not placed under arrest initially, the whirlwind speed of events had their situation changed from non-arrest to house arrest and, within one month, charges were formally slapped against them by the authorities for money laundering and tax evasion.

After that, Anjarwalla had mysteriously vanished from Nigeria. Gambaryan was placed into the well-known Kuje prison, which also reportedly kept suspects of the Boko Haram group. In a video message, he appealed to the U.S. government for help, not knowing the plans Anjarwalla had after the departure of his colleague.

The US reaction to the detention of Gambaryan was very muted. Since he was moved to Kuje prison, Gambaryan had only one visit by the embassy staff, and to Kuje prison, his chance of proper legal representation is very limited.

His wife, Yuki Gambaryan, has humanly come out and condemned the treatment of her husband, terming it as very unfair and inhumane. She expressed her continued suffering and jitters on the prospects of her husband as he celebrates his 40th birthday in detention.

In the countermove, both Gambaryan and Anjarwalla filed suits against Nigeria's National Security Advisor and Economic Financial Crimes Commission on the account of human rights violation of them. In the face of serious charges, Gambaryan has pleaded not guilty, maintaining his innocence.

The trial over money laundering allegations is due to start on May 2, with tax evasion charges being treated separately from May 17. During the last court hearing, the Economic and Financial Crimes Commission opposed a bail application by Gambaryan, indicating the attempt by the latter to procure a new passport after it had been seized and the evidence of the risks of flight following Anjarwalla's attempt to leave the country.

The prosecution, on the other hand, has emphasized the potential danger in releasing Gambaryan, noting his lack of attachment to a community in Nigeria and the potential danger he would. On the other hand, the defense of Gambaryan refuted that any real proofs were confirming his actual detention. He, in turn, accentuated that there were no real proofs of Gambaryan having to do something either with an escape plan or any crime.