Breaking News
Just In: Binance Executive, Gambaryan Denied Bail, To Remain In Kuje Prison
An Abuja Federal High Court on Friday dismissed a bail application filed by the detained Binance executive, Tigran Gambaryan.
Justice Emeka Nwite, in a ruling, held that based on the affidavit evidence before him, Gambaryan would jump bail if the application is granted.
“I have carefully considered the affidavit evidence before me and I am of the view that the applicant will jump bail if granted bail,” Justice Nwite declared.
However, the judge ordered for an accelerated hearing in the trial.
The News Agency of Nigeria (NAN) reports that Justice Nwite had, on April 23, fixed Friday for the ruling after counsel for the EFCC, Ekele Iheanacho, and Gambaryan’s lawyer, Mark Mordi, SAN, adopted their processes and argued their case against and for the bail plea.
Justice Nwite had ordered the remand of Gambaryan in Kuje Correctional Centre after he pleaded not guilty to the money laundering charges preferred against him by the EFCC.
The EFCC had accused Binance Holdings Limited, Gambaryan and Nadeem Anjarwalla, another agent of the company, of allegedly conspiring amongst themselves to conceal the origin of the financial proceeds of their alleged unlawful activities in Nigeria including $35,400, 000.
They were alleged to have committed an offence contrary to Section 21 (a) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022, among others.
However, Anjarwalla escaped from lawful custody on March 22 and fled Nigeria for Kenya.
Mordi, on Gambaryan’s behalf, had filed an application seeking an order of the court, releasing his client on bail pending the hearing and determination of the substantive case.
Mordi, in the last adjourned date, had argued that the EFCC had failed to produce any credible evidence to oppose his application.
According to him, the complainant’s allegation that Gambaryan was arranging to escape from custody like his colleague was false.
“There is no exhibit or document displaying EFCC’s credible intelligence.
But the EFCC lawyer disagreed with Mordi.
Iheanacho argued that the court would be taking a grave risk by granting the Binance agent a bail because he had no attachment to any community in Nigeria or competent person to stand as his surety.
He contended that Gambaryan attempted to apply for a new United States passport while in detention knowing fully well his International passport was seized by the Nigerian state.
The lawyer said he was a flight risk and that if granted bail, he would jump bail like his colleague.
He disagreed with Mordi that the commission had not provided credible evidence that Gambaryan was planning to escape.
He said going by the deposition in their counter affidavit, the deponent was one of the investigative team that investigated the case.
He urged the court to dismiss the bail application.
In the alternative, he advised the court to return the applicant to EFCC custody if the judge decided to grant him bail.
Aliko Dangote, Chairman of Dangote Industries, through his legal representative, has formally submitted a corruption petition to the Economic and Financial Crimes Commission (EFCC) against Farouk Ahmed, the former Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
This was disclosed in a statement made available to our correspondent by the Dangote Group media team on Friday.
Recall that Dangote had earlier petitioned the Independent Corrupt Practices and Other Related Offences Commission to investigate Ahmed for allegedly spending $5 million on his children’s secondary education in Switzerland. He withdrew the petition a few days ago, even as the ICPC vowed to continue with its investigation.
The statement on Friday said Dangote’s petition to the EFCC followed “The withdrawal of the same petition from the Independent Corrupt Practices and Other Related Offences Commission, a strategic decision aimed at accelerating the prosecution process.”
In the petition, signed by Lead Counsel Dr O.J. Onoja, Dangote urged the EFCC to investigate allegations of abuse of office and corrupt enrichment against Ahmed, and to prosecute him if found culpable.
The petition further stated that Dangote would provide evidence to substantiate claims of financial misconduct and impunity.
“We make bold to state that the commission is strategically positioned, along with sister agencies, to prosecute financial crimes and corruption-related offences, and upon establishing a prima facie case, the courts do not hesitate to punish offenders. See Lawan v. F.R.N (2024) 12 NWLR (Pt. 1953) 501 and Shema v. F.R.N. (2018) 9 NWLR (Pt.1624) 337,” the petition read.
Onoja further urged the commission, under the leadership of Mr Olanipekun Olukoyede, “To investigate the complaint of abuse of office and corruption against Engr. Farouk Ahmed and to accordingly prosecute him if found wanting.”
The Rivers State House of Assembly formally recommenced impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu.
This marks the second time within ten months that the state legislature has initiated such a move.
At a plenary session presided over by the Speaker, Martins Amaewhule, the Majority Leader of the House, Major Jack, formally read the notice detailing allegations of gross misconduct against Governor Fubara.
The notice, which was endorsed by 26 lawmakers, accused the governor of actions allegedly in violation of the Nigerian Constitution.
Amaewhule announced that the notice would be served on the governor within the next seven days.
During the same sitting, the Deputy Majority Leader, Linda Stewart, read the notice of allegations and gross misconduct leveled against Deputy Governor Ngozi Oduh.
Breaking News
Supreme Court: President Has Power To Declare Emergency Rule, Remove Elected Officials
The Supreme Court has reaffirmed that the President holds the constitutional power to declare a state of emergency in any state where circumstances threaten public safety or governance.
According to the ruling, this authority may be exercised to prevent a serious breakdown of law and order or to stop conditions from deteriorating into chaos or anarchy.
The court emphasized that such powers are intended to safeguard national stability and ensure the continued functioning of democratic institutions when extraordinary situations arise.
It noted that emergency measures are justified only in exceptional cases where normal governance mechanisms are unable to effectively address escalating crises.
More details later…
Boko Haram Demands $300,000 Ransom For Abducted Borno Ex-LG Chair, Another Victim
How Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit
Impeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly
Your Second Coming Was A Chance To Avoid These Political Mistakes – Fayose To Fubara
Corruption Battle: Dangote Drags Ex-NMDPRA Boss To EFCC After ICPC Withdrawal
Rivers Crisis: Full List Of 8 Misconduct Allegations Against Governor Fubara
Panic In Ibadan As Rising Kidnap, Robbery Threats Trigger Official Red Alert
Wizkid Becomes First African Artist To Enter Spotify’s 10 Billion Streams Elite
Funke Akindele’s Behind The Scenes Becomes West Africa’s All-Time Box Office King
Rivers Assembly Formally Serves Impeachment Notice To Gov. Fubara
-
News2 days agoImpeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly
-
News2 days agoYour Second Coming Was A Chance To Avoid These Political Mistakes – Fayose To Fubara
-
News1 day agoHow Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit
-
News15 hours agoBoko Haram Demands $300,000 Ransom For Abducted Borno Ex-LG Chair, Another Victim