Abuja, Oct. 9, 2024 (TheGavel) – The Federal High Court in Abuja was unable to rule on the bail application of Binance Holdings Limited executive, Tigran Gambaryan, as Justice Emeka Nwite, who was presiding over the matter, was unavailable on Wednesday. Justice Nwite’s absence was due to his attendance at an ongoing seminar at the National Judicial Institute (NJI) in Abuja. Consequently, the court has rescheduled the ruling on Gambaryan’s bail request for October 11, 2024.
The case, which had gained considerable attention, centers around a fresh bail application filed on behalf of Gambaryan, who remains in detention under the custody of the Nigerian Correctional Service (NCoS). The counsel representing Gambaryan, Mark Mordi, SAN, had initially filed the bail application on September 4, 2024. However, it faced strong opposition from the Economic and Financial Crimes Commission (EFCC), represented by Senior Advocate of Nigeria, Ekele Iheanacho.
Iheanacho argued that Gambaryan was receiving appropriate medical treatment while in detention, noting that the NCoS had ensured he was attended to at several medical facilities, including the State House Clinic in Abuja. He further alleged that Gambaryan had rejected medical intervention at the State House Clinic, despite being provided with what Iheanacho described as “the best medical treatment.”
In his argument against the bail plea, Iheanacho pointed to medical records from various hospitals, including Nizamiye Hospital, which were provided to the National Security Adviser (NSA), Nuhu Ribadu, at the NSA’s request. These records, according to Iheanacho, showed that Gambaryan had been receiving adequate care, further supporting the EFCC’s stance that the executive’s health condition was being managed effectively.
Despite this, Gambaryan’s counsel, Mordi, countered that his client’s health condition had worsened, asserting that his medical needs could not be sufficiently addressed in Nigeria. He petitioned the court to either grant Gambaryan bail on liberal terms or allow for a temporary release of six weeks to seek proper medical attention abroad. Mordi emphasized that the medical reports submitted by the EFCC were not sufficient to address his client’s serious health issues.
Iheanacho, however, dismissed these claims, accusing Gambaryan of fabricating the severity of his illness in an attempt to secure bail, a tactic he claimed was common among defendants in high-profile cases. “He cannot suddenly become sick,” Iheanacho argued, calling on the court to reject the bail application.
The ongoing legal battle has drawn significant public interest due to Gambaryan’s position within Binance Holdings and the broader implications of the case for the cryptocurrency sector. As the court prepares to rule on October 11, all eyes remain on the Federal High Court in Abuja to see whether Gambaryan will be granted bail or continue to be held in detention. (NAN)
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