Nigerian High Court Delays Binance Executive Trial Due to Health Concerns

By: Eliza Bennet

A Nigerian High Court has postponed the money laundering trial involving Binance and its executive, Tigran Gambaryan, to June 20 because of Gambaryan's health issues. The Economic and Financial Crimes Commission (EFCC) confirmed this decision in a statement on May 23, attributing the adjournment to the defense counsel's request based on Gambaryan's inability to stand trial due to ill health. Local media reports corroborate that Gambaryan collapsed during the trial, necessitating medical attention.

Gambaryan's lawyer, Mark Mordi, appealed to the court to delay proceedings until his client recovers, proposing a transfer to Mizamiye Hospital Abuja for treatment. He cited the need for a medical report from the Nigerian Correctional Service on the examination conducted on Gambaryan at their facility. The ill health and continued detention of the U.S. citizen, who leads Binance's financial crime compliance department, have triggered significant international outrage.

Gambaryan and Nadeem Anjarwalla, Binance's regional manager for Africa, were detained on February 26 upon their arrival in Abuja. Anjarwalla later escaped custody on March 22. Despite calls for Gambaryan's release, the Nigerian High Court denied his bail application, citing flight risk concerns. The ongoing prosecution of Binance executives has raised alarms regarding Nigeria's standing in the crypto industry, although crypto adoption within the country remains robust, highlighted by several crypto-related apps making the top downloads on the Apple App Store.