Binance Exec Slumps in Court as Nigerian Ordeal Takes Toll

Binance’s Tigran Gambaryan shows signs of strain after nearly three months in Nigerian detention.

Binances Tigran Gambaryan sweating in court.
Created by Kornelija Poderskytė from DailyCoin
  • Binance’s Tigran Gambaryan is showing signs of strain after nearly three months in Nigerian detention.
  • The money laundering case against Binance has been delayed due to the executive’s deteriorating health.
  • Last week, Nigeria’s Federal High Court Denied Gambaryan bail.

In February 2024, Binance Chief Compliance Officer Tigran Gambaryan entered Nigeria with his colleague Binance Regional Manager for Africa Nadeem Anjarwalla, who is currently on the run, hoping to resolve growing tensions between the African nation and his employers. What has followed, however, has been nothing short of a nightmare.

Shortly after their arrival, both men were detained for refusing to discuss sharing details of the exchange’s customers with the Office of the National Security Adviser. Following Anjarwalla’s escape, Gambaryan has been left alone to face money laundering and tax evasion charges that have been leveled against the exchange and the two mid-level executives.


After nearly three months of incarceration, almost two months of which have been spent in one of the country’s most notorious prisons, the Binance executive is beginning to show signs of strain.

Gambaryan’s Health Deteriorates

Thursday, May 23, was supposed to mark the second day of the money laundering trial brought by the country’s anti-graft agency, the Economic and Financial Crimes Commission. The court was expected to see the cross-examination of an SEC director who had claimed on the first day that Binance’s operations had disrupted naira price discovery mechanisms. However, things failed to go as planned.

As is typically the case, Gambaryan was called to the dock at the beginning of proceedings. However, according to local reports, the Binance executive needed the assistance of one of his lawyers to leave his seat. On getting to the front, he collapsed and was helped to a seat to recover.

Presenting a doctor’s note to the judge, Gambaryan’s lawyer explained that the Binance executive was suffering from a deteriorating health condition. In light of the unspecified health condition, he asked for an adjournment of proceedings and his client’s transfer to a medical facility for treatment.


Acquiescing to the request, the judge adjourned proceedings to June 20 and June 21.

The recent worrying development follows the court’s decision to deny bail for the Binance executive.

A Flight Risk?

On Friday, May 17, citing Nadeem Anjarwalla’s escape, Nigeria Federal High Court Justice Emeka Nwite denied Gambaryan’s bail application, deeming the Binance executive a flight risk.

The decision came despite arguments from the defense that the Binance executive was grounded in Nigeria for all intents and purposes, as his travel documents had been seized when the ONSA apprehended him in February 2024.

With the decision, the court dashed all hopes of a reprieve for Gambaryan.

On the Flipside 

  • Gambaryan’s arraignment on tax evasion charges has been adjourned to July 14.
  • Nigerian authorities are seeking an Interpol red notice to secure the extradition of Anjarwalla.
  • Binance maintains that talks are ongoing with Nigerian authorities to secure the release of Gambaryan.

Why This Matters

Gambaryan has been incarcerated in Nigeria for nearly three months, far from his family and friends. The recent courtroom incident suggests that the ordeal is beginning to take a toll on his health.

Read this for more on Gambaryan’s predicament:
BREAKING: Binance’s Tigran Gambaryan Denied Bail in Nigeria

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Okoya David

David Okoya is a crypto news reporter at DailyCoin based in Nigeria. He covers various topics related to the cryptocurrency industry, including exchanges, regulations, and price movements, and strives to bring fresh angles to breaking news. With experience as a freelance crypto news writer, David upholds the highest journalistic standards, telling complete stories and answering lingering questions whenever possible.