Court Adjourns Hearing On Bail Application Of Binance Executive Until April 23

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A Federal High Court, Abuja, on Monday, adjourned hearing in the bail application of the detained Binance executive, Tigran Gambaryan, until April 23.

Justice Emeka Nwite adjourned the hearing following an oral application by counsel for the Economic and Financial Crimes Commission (EFCC), Ekele Iheanacho, seeking more time to respond to a further affidavit served on him in the open court by Gambaryan’s lawyer, Mark Mordi, SAN.

At the resumed proceedings, Iheanacho told the judge that he was served with another further affidavit by Mordi.

“I don’t know the content so I need to know the content,” he said.

But Mordi argued that both parties could immediately respond to the application so that the bail plea could be heard.

”My client has been in detention, honestly, what is fair is fair.

“The man’s liberty is at stake, I won’t mind my lord, if you can stand down the matter so we can go through the processes, reply, and then we proceed,” Mordi said.

Justice Nwite, who adjourned the matter in the interest of justice, said counsel are entitled to respond to each others’ processes within the constitutional stipulated time frame.

The News Agency of Nigeria reports that the judge had ordered the remand of Gambaryan in Kuje Correctional Centre after he pleaded not guilty to the money laundering charges preferred against him by the EFCC.

The EFCC had accused Binance Holdings Limited, Gambaryan and fleeing Nadeem Anjarwalla, another agent of the company, of allegedly conspiring amongst themselves to conceal the origin of the financial proceeds of their alleged unlawful activities in Nigeria including $35,400, 000.

They were alleged to have committed an offence contrary to Section 21 (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022, among others.

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