A Nigerian High Court has postponed the money laundering trial of Binance and its director Tigran Gambaryan until June 20 due to executive health concerns, according to a May 23 report. rack of the Economic and Financial Crimes Commission (EFCC).
The EFCC reported that the counsel, led by Mark Mordi, informed the court of his client’s ill health and inability to stand trial. Circulating local media reports further revealed that Gambaryan had collapsed during the May 23 trial and required the assistance of his legal team.
Modi then urged the court to postpone the trial to a later date so that his client could make an appropriate recovery. The lawyer stated:
“Given the ill health of the second defendant, it is clear that he cannot stand trial today… We request that the defendant be transferred to Mizamiye Hospital, Abuja for treatment, and that the court direct the Nigerian Correctional Service to give us a medical report on the examination they carried out on him in their institution.
Gambaryan is a US citizen who heads the cryptocurrency exchange’s financial crime compliance department. He and Nadeem Anjarwalla, Binance’s regional manager for Africa, were arrested on February 26 upon their arrival in the Nigerian capital Abuja. Anjarwalla escaped custody on March 22.
Gambaryan’s continued detention in Nigeria has provoked a strong response from the international community, which has called for his release. However, Nigeria’s Supreme Court rejected his bail application citing flight risk concerns.
CryptoSlate previously reported that crypto stakeholders have warned that Nigeria’s continued prosecution of Binance and its executives could have a significant impact on the country’s reputation within the Web3 ecosystem.
Available nonetheless facts shows that crypto adoption in Nigeria remains very strong, with at least six crypto-related applications in the top 10 most downloaded applications on the Apple App Store. Patrick Hansen, EU Strategy Director for Circle, said:
“Nigeria is one of the fastest growing economies in the world and is expected to be the third most populous country by 2050. It is insane to have two self-custodial wallets in the top three IOS apps in Nigeria, even if it is only temporarily true.”