EFCC Urges Court to Deny Bail Application for Binance Executive, Tigran Gambaryan

The courtroom drama continues as the Economic and Financial Crimes Commission (EFCC) battles with the detained executive of Binance Holdings Limited, Tigran Gambaryan, over his bail application. Gambaryan, who has been behind bars for over 50 days, is fighting for his freedom, claiming that he does not pose a flight risk.

His lawyer, Mark Mordi (SAN), argued passionately in court, stating that the prosecution has failed to provide concrete evidence that his client is planning to escape the country. He dismissed the allegations as mere hearsay and unreliable information. Mordi also accused the EFCC of using Gambaryan as a bargaining chip to extract information from his employer.

On the other hand, the EFCC is adamant about keeping Gambaryan in custody, citing concerns about his potential to flee, similar to his colleague Nadeem Anjarwalla, who is currently on the run. The commission requested the court to transfer Gambaryan from Kuje prison to EFCC custody to prevent any escape attempts.

The tension in the courtroom was palpable as both sides presented their arguments before Justice Emeka Nwite. After hearing the case, Justice Nwite adjourned the matter until May 17 for a ruling, leaving Gambaryan’s fate hanging in the balance.

Gambaryan, along with his company Binance Holdings Limited and Anjarwalla, are facing charges of money laundering and terrorism financing. The EFCC alleges that the trio conspired to conceal the origin of financial proceeds from their illicit activities in Nigeria. While Gambaryan remains in custody, Anjarwalla managed to evade capture, adding another layer of complexity to the case.

As the legal battle unfolds, all eyes are on the court’s decision on Gambaryan’s bail application and the outcome of the case against him and his co-defendants. Stay tuned for more updates on this gripping courtroom saga.