EFCC Opposes Binance Executive's Bail Over Fears Of Escape

CITING fears of possible flight, the Economic and Financial Crimes Commission (EFCC) urged Justice Emeka Nwite of the Federal High Court Abuja to reject Tigran Gambaryan's bail plea. Gambaryan is an executive of Binance Holdings Limited.

The organization pointed out how dangerous it is to grant bail to a foreign national, especially in view of the recent flight to Kenya by Nadeem Anjarwalla, Gambaryan's co-defendant, from the National Security Adviser's custody.

The EFCC's prosecuting attorney, Emeka Iheanacho, claims that there is evidence that suggests Gambaryan was involved in a scheme to get a new passport so he could leave Nigeria easier after the authorities seized his previous one.

Emeka Iheanacho, the EFCC's prosecuting attorney, claims that there is evidence that suggests Gambaryan was involved in a scheme to get a new passport after the EFCC had confiscated his old one, which would have made it easier for him to flee Nigeria.

Iheanacho refuted Gambaryan's request for bail, stating, “There was an attempt by this defendant to procure another travelling document even when he was aware that his passport was in the custody of the state. He pretended as if the said passport was stolen.” 

Iheanacho also argued that giving Gambaryan bail would be extremely risky due to his lack of ties to any community in Nigeria and Binance's virtual activities.

He expressed concerns that Gambaryan might try to leave the nation, akin to Anjarwalla's escape to Kenya while in possession of a UK passport that was still in Nigeria.

Gambaryan's attorney, Mark Mordi (SAN), responded to the EFCC's rejection of his bail request by characterizing his client's ongoing incarceration as only a state-approved hostage-taking. He said that Gambaryan was being kept by the EFCC as a bargaining chip to extract information from his employer.

Mordi disputed the EFCC's claims on flight danger, saying, “He can't go anywhere. They (EFCC) have his passport. Already, being here, unable to go meet his family, is enough torture.”

He further contended that the court should grant bail with conditions guaranteeing his client's presence at the trial because the prosecution had not produced any solid evidence to support its denial of Gambaryan's request for release.

Justice Nwite postponed the hearing to May 17 in order to give the parties the opportunity to prepare their arguments and thoroughly review the intricate legal matters at hand.