Abuja — After 10 months in custody, the detained executive of Binance Holdings Limited, Mr Tigran Gambaryan, will breathe fresh air, following the withdrawal of the charge that took him into custody.
Gambaryan was arrested in February this year alongside one Mr Nadeem Anjarwalla, who is Binance Regional Manager for Africa.
However, Anjarwalla had escaped from custody and fled the country leaving only Gambaryan to face a five-count charge preferred against him and the cryptocurrency firm.
Specifically, the federal government had accused Binance of manipulation of the country's currency.
Although, the defendant pleaded not guilty to all the five-count criminal charge, Justice Emeka Nwite of a Federal High Court in Abuja, had continued to decline to admit Gambaryan to bail.
The defendant had on some occasion attended his trial on wheelchair and could not make it to court on the last adjournment due to his deteriorating health.
However, at Wednesday's proceedings, Justice Nwite struck out the charge against him and ordered his immediate release from the custody of the Correctional Service Center in Kuje, Abuja.
When the matter was called, lawyer to the Economic and Financial Crimes Commission (EFCC), Ekele Iheanacho, SAN, recalled that the case could not proceed on the last adjourned date due to the failing health of the defendant, which, according to him, the state has managed effectively.
Iheanacho added that a report from the Nigerian Correctional Service, through the Office of the National Security Adviser (ONSA), now indicates that Gambayran's health has deteriorated to the extent that he can hardly walk without the assistance of a wheelchair, in addition to suffering from other health issues.
In addition, the prosecution told the court that Gambayran needs to undergo surgery and that the surgery and recovery will take some time, potentially impacting the pace of the trial.
Besides, Iheanacho informed the court that the government has reviewed the fact of the case and recognized that Gambayran is merely an employee of Binance, whose status in the matter has no significant impact.
He also hinted of some critical diplomatic and international meetings involving the Nigerian government and its U.S. counterpart, to the extent that the federal government has now resolved to discontinue the charges against Gambayran.
The prosecution counsel subsequently urged the court to discharge Gambayran accordingly.
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Responding, Gambayran's lawyer, Mark Mordi SAN, who did not object to the withdrawal of the case against his client, however requested that the court should order an acquittal rather than a discharge, following FG's recognition of Gambaryan as an employee of Binance.
Delivering ruling, Justice Nwite granted the request of the prosecution and subsequently struck out the money laundering charge against Gambayran.
"The application of the prosecution's counsel is granted as prayed, having reviewed the circumstances of the charge. The second defendant is hereby discharged."
