Court Denies Binance Executive, Gambaryan Bail

A Federal High Court in Abuja on Friday denied the bail application of the executive of Binance cryptocurrency firm, Tigran Gambaryan.

Naija News recalls that Gambaryan, his company, Binance Holdings Limited and a fellow top executive currently on the run, Nadeem Anjarwalla, were charged by the Economic and Financial Crimes Commission (EFCC) with money laundering and terrorism financing.

According to Punch, Justice Emeka Nwite, while delivering the ruling on Friday, held that the bail application was refused as he had carefully reviewed the application submitted before him and resolved that the defendant would jump bail if granted.

It Was An Ambush, We Never Mentioned Bribe

Meanwhile, Binance has stood by its claim that some Nigerian officials demanded certain amount of money from them to make its case with the Nigerian government disappear.

The cryptocurrency platform stated this while reacting to demands that it reveals the identities of the people behind the ‘alleged bribe.’

In an email message to legit, the platform stated that they were not contacted before the story was published, adding that they wanted to flag the report to correct some misinformation.

“We wanted to flag some incorrect information in the article and have contacted Bloomberg for a correction.

“We were not contacted for comment by Bloomberg, and we believe it is important for your articles to be updated to fairly reflect this,” the company said.