A Federal High Court in Abuja has remanded a Binance executive, Tigran Gambaryan, in Kuje Correctional Centre, pending the determination of his bail application.
The trial judge, Justice Emeka Nwite, gave the order after Gambaryan pleaded not guilty to the money laundering charges preferred against him by the Economic and Financial Crimes Commission (EFCC) on Monday.
Justice Nwite then adjourned till April 18 hearing on Gambaryan’s bail consideration while setting May 2 as the date to begin hearings on the substantive charge.
This case has captured public attention, marking a rigorous stance by Nigerian authorities against financial misconduct.
The Federal Government’s arrest of Gambaryan and Nadeem Anjarwalla, another Binance executive spotlighted the company’s alleged involvement in money laundering and terrorism financing. (READ MORE)
While Gambaryan remains in custody, Anjarwalla, Binance’s Africa Regional Manager, managed to escape and flee Nigeria.
The government is actively seeking his extradition to face charges.
The EFCC’s charges against Gambaryan and Anjarwalla underscore a broader investigation into Binance Holdings Limited’s activities.
In addition to the EFCC’s pursuit, the Federal Inland Revenue Service (FIRS) has accused both individuals and the company of tax fraud thereby intensifying legal pressures on the cryptocurrency trading platform.
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