Court Remands Binance Executive In Kuje Prison

A Federal High Court sitting 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.

The court held that he should remain in prison till April 18, when his bail application will be determined, even as it slated May 2 for the commencement of hearing on the substantive charge against him.

The Next Edition reported that the Federal Government had arrested and detained Gambaryan and his colleague, Nadeem Anjarwalla, over alleged involvement of their firm, Binance Holdings Limited in money laundering and terrorism financing.

However, Anjarwalla, who is the Africa Regional Manager of Binance, escaped from custody and fled the country, with the government initiating the process to arrest and extradite him back for trial.