Tigran Gambaryan, a Binance executive, has been denied bail by a Nigerian court, according to a family spokesperson. The decision has been met with disappointment, particularly given Gambaryan's deteriorating health after over 220 days of detention. A Binance spokesperson expressed the company's commitment to working with the Nigerian government to resolve the issue.
Gambaryan, who heads financial crime compliance at the crypto exchange, has been detained in Nigeria's Kuje prison since February. He faces charges of tax evasion and money laundering, although the tax charges were later dropped. The court had previously deferred a decision on bail in September, but Gambaryan's attorneys filed a new application citing his worsening medical condition, which includes malaria, pneumonia, and tonsillitis, as well as complications from a herniated disc. Gambaryan's wife, Yuki Gamabryan, has expressed her exhaustion and disappointment, vowing to continue fighting for her husband's freedom.