Bail hearing for detained Binance executive is pushed back due to deteriorating health condition
Tigran Gambaryan, a Binance executive and United States citizen, has been imprisoned in Nigeria since February, amid a standoff between the Nigerian government and the cryptocurrency exchange. Gambaryan's health, according to his family, has been reported to be deteriorating during his detention.
The Nigerian court brought Gambaryan before it by the Economic and Financial Crimes Commission (EFCC), and he faces money laundering charges. However, his legal team successfully argued that he should not be held accountable for Binance's actions, and the Federal Inland Revenue Service (FIRS) dropped its charges against him.
Gambaryan's only just-released medical records, per his representatives, included a recommendation for immediate surgery and was missing an MRI scan. Despite this, prison officials reportedly instructed not to assist, and Gambaryan has been using crutches. He has been bedridden for months and collapsed in court once. Gambaryan's lawyers requested bail for his medical treatment, and Justice Emeka Nwite has ordered updated health reports to be provided.
Binance denies processing transactions worth $26 billion in Nigeria in 2023 alone. The exchange has isolated itself from Nigeria's currency woes, which have not stopped since the exchange left the country earlier in the year.
The hearing for Gambaryan's bail application is scheduled to resume on September 4. In a viral video, Gambaryan is seen struggling to walk, seeking assistance from a prison officer. The EFCC's counsel opposed the bail request, claiming that Gambaryan is not in poor health and has refused treatment while in prison.
Gambaryan's lawyers have only been allowed 15 minutes with him since July 26, and his consular representatives have been denied access. In the video, Gambaryan is reportedly suffering from a herniated disc and other ailments that have left him unable to walk.
Regarding the ongoing legal efforts in Gambaryan's defense, his legal team has filed a lawsuit against Nigeria's National Security Adviser and the EFCC. No official information has been published about the success or failure of his bail application up to August 11, 2025.
Binance and the exchange's British-Kenyan regional manager for Africa, Nadeem Anjarwalla, also face money laundering charges. The case continues to be a point of contention between the Nigerian government and Binance, with implications for the cryptocurrency industry in Nigeria and beyond.
- The ongoing legal battle for Tigran Gambaryan, a Binance executive, involves allegations of money laundering charges brought by the Nigerian court through the Economic and Financial Crimes Commission (EFCC).
- Binance, a digital assets exchange, denies processing transactions worth $26 billion in Nigeria in 2023 alone, distancing itself from the country's currency issues.
- In the midst of this case, Binance and its British-Kenyan regional manager for Africa, Nadeem Anjarwalla, also face money laundering charges, raising questions about the future of the cryptocurrency industry in Africa, particularly in Nigeria.
- As the legal proceedings continue, Gambaryan's legal team has taken the unusual step of filing a lawsuit against Nigeria's National Security Adviser and the EFCC, seeking resolution about the ongoing issue and Gambaryan's medical treatment and bail application, the status of which remains undisclosed up to August 11, 2025.
