The Nigerian court rejected the bail application of Binance executive Tigran Gambaryan

ChainCatcher news, according to the Nigerian National Newspaper, the Federal High Court in Abuja, Nigeria, has denied the bail application of Binance executive Tigran Gambaryan. He is on trial for alleged money laundering. In Friday's ruling, Judge Emeka Nwite stated that Gambaryan poses a flight risk if granted bail.

Judge Nwite agreed with the prosecution lawyer Ekele Iheanacho's argument that it would be unwise to grant Gambaryan bail, given that his co-defendant, Nadeem Anjarwalla, the regional manager for Binance in Africa, had previously escaped from custody.