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Court denies Binance executive Gambaryan’s bail, demands speedy trial

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A Federal High Court, Abuja, 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 was 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 an accelerated hearing in the trial.

The News Agency of Nigeria (NAN) reports that Justice Nwite had, on April 23, fixed today 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, to release 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 EFCC’s lawyer disagreed with Mordi.”

Iheanacho argued that the court would have taken a grave risk by granting the Binance agent 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 teams 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.

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Appeal Court nullifies ruling restraining Bayero from parading self as Kano emir, orders fresh hearing

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The court of appeal in Abuja has ordered a fresh hearing of the Kano state emirship tussle involving Aminu Bayero.

In a judgment delivered on Friday, a three-member panel of justices led by Mohammed Mustapha, faulted the verdict of the Kano state high court.

The high court had stopped Bayero and four other dethroned emirs of Bichi, Rano, Gaya and Karaye from parading themselves as emirs.

The appellate court held that in the ruling delivered by Amina Adamu Aliyu, trial judge, on July 15, Bayero was denied fair hearing due to the “shoddy manner” the high court conducted its proceedings.

Mustapha said the high court was unfair to Bayero by conducting proceedings without serving him a hearing notice to enable him present his case.

The lead justice held that all courts of law are bound to ensure justice for all parties by giving them equal opportunities, adding that the conduct of the proceedings against Bayero amounted to a travesty of justice.

Consequently, the appellate court ordered that the case be remitted to the chief judge of the Kano state high court for reassignment to another judge for expeditious determination.

Lamido Sanusi was reinstated as emir by Abba Yusuf, governor of Kano, at a colourful ceremony in the government house on May 24.

The Kano house of assembly repealed the law that Abdullahi Ganduje, former governor of the state, used to depose and exile Sanusi in 2020.

The repeal paved the way for the reinstatement of Sanusi and the dethronement of Bayero.

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Makinde announces Abimbola Owoade as Alaafin of Oyo

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Seyi Makinde, governor of Oyo state, has announced Abimbola Akeem Owoade as the new Alaafin of Oyo.

The announcement was made in a statement issued on Friday by Sulaimon Olanrewaju, his chief press secretary.

Owoade’s appointment comes over two years since the death of Lamidi Adeyemi who was Alaafin from 1970 to 2022.

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US government returns $52.88m linked to Diezani

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The Government of the United States of America, USA, has repatriated the sum of $52. 88 million it said was traced to former Petroleum Resources Minister Diezani Madueke.

The US Ambassador to Nigeria, Mr. Richard M. Mills, Jr, led a delegation that executed the Assets Return Agreement at the Federal Ministry of Justice Headquarters in Abuja, on Friday.

Signing the agreement on behalf of the Federal Government, the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, disclosed that the $52.88m arose from the forfeiture of Galactica assets, linked to the ex-Minister and her associates.

The AGF maintained that the development was not only a testament to the unwavering commitment of both nations to fight corruption but also signified the commitment of the USA to facilitate restitution and support integrity and accountability in governance.

“Measures have also been put in place to ensure that the repatriated funds are not only disbursed but also utilized transparently and accountably by the World Bank and IIJ, with periodic reports to be forwarded to Nigeria and the US on the implementation of the projects.

“This robust framework will guarantee that the funds are effectively used for the full benefit of the Nigerian people in line with UNCAC and the Global Forum on Asset Recovery (GFAR) principles,” the AGF added.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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