Nigerian court denies bail to Binance official

A federal high court in Abuja, the capital of Nigeria, rejected the request to grant bail to the official of Binance cryptocurrency company, Tigran Gambaryan who spent more than 40 days in detention in Kuje prison in the federal city.

While delivering the verdict, Justice Emeka Nwite said that he had studied the bail application presented to him, but said that there is a possibility that Mr. Gambaryan could escape if his bail is granted.

The EFCC charged the official with his colleague Nadeem Anjarwalla, and the Binance company before the court on five charges related to money laundering amounting to about 35.4 million dollars on the company's website.

In addition to the country's tax collection agency, the FIRS accused the three of four crimes of tax evasion.

The suspects have denied all the allegations.

Today's case has just started on the corruption of money, through the presentation of evidence from the country's stock control board.

Last week, the CEO of Binance, Richard Teng, accused some Nigerian government officials of asking for a bribe of 150 million dollars to kill the matter.

The allegations denied by the country's authorities, describing it as "defamation" and diverting people's attention to the ongoing case.

Until now, it is not known where Nadeem Anjarwalla is after his escape from the Nigerian authorities.

However, the country's authorities said that they are working with international police officers, in a step to get an international warrant on the ground to arrest him wherever he is.

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