Binance Exec Requires Surgery, But Nigerian Prosecutors Oppose Bail

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Binance exec Tigran Gambaryan, who has been detained in Nigeria since February, submitted a new bail application citing medical reasons on Monday. But lawyers representing Nigeria’s economic crimes agency have opposed it, his family said.

At the start of the week, court proceedings in Abuja resumed for Gambaryan’s trial. His lawyers reported worsening conditions at Kuje prison, where he is being held. As a result, they have faced restrictions in meeting him properly to prepare for his trial, according to a family statement.

“They are also deeply concerned about his health conditions including a herniated disc in his back as well as suffering bouts of Pneumonia, Malaria and Tonsillitis,” the family said.

Nigerian authorities detained Gambaryan and another Binance exec Nadeem Anjarwalla after inviting them to discuss the exchange’s operations in the country.

This action was part of Nigeria’s broader campaign against crypto exchanges. The government had accused these exchanges of devaluing the naira and facilitating illegal financial transactions.

In May, the court rejected Gambaryan’s initial bail application. This decision came after charges were brought against him, Nadeem Anjarwalla, and Binance for allegedly laundering over $35m.

Gambaryan’s family and Binance officials have described his detention as unjust, sparking concerns about human rights and the rule of law.

Last week, Binance’s CEO Richard Teng urged the Nigerian government to free him on humanitarian grounds. This would allow him to receive proper medical treatment in the US, he said.

Gambaryan’s family said that he was denied the use