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Court Slates May 17 To Decide Bail Request By Binance Executive
Justice Emeka Nwite of a Federal High Court in Abuja has adjourned till May 17 to rule on the bail application filed by a Binance executive, Tigran Gambaryan.
Justice Nwite fixed the date on Tuesday after taking arguments from parties for and against the bail of Gambaryan, who is the second defendant in the charge filed by the Economic and Financial Crime Commission (EFCC) against Binance Holdings Limited, a cryptocurrency firm, and its executive over alleged money laundering to the tune of $35,400,000.
Arguing the bail application on behalf of his client, Mark Mordi (SAN) said, the court has the inherent jurisdiction to admit the defendant to bail, more so that, the offences for which he was charged are bailable offences.
Besides, he said, the defendant is presumed innocent until proven otherwise by the court and added that his client is anxious to prove his innocence before the court.
According to Mordi, Gambaryan is not a flight risk and his international passport has been seized by the EFCC adding that, “The only reason the EFCC is holding the defendant is that, they want to use him as a leverage in making his employer provide them with information”.
While accusing the anti-graft agency of not acting according to law, Mordi prayed the court to admit the defendant to bail adding that, the court has the power to put in place necessary safeguards to ensure that the defendant attends his trial.
Opposing the application for the bail of the Binance executive, EFCC lawyer, Ekele Iheanacho, in a 14-paragraph affidavit, prayed the court to refuse the bail application of the defendant.
Iheanacho told the court that the second defendant is both an American and Amanian citizen and had attempted to process a new passport on the ground that his initial passport was missing.
He said if EFCC had not intercepted the second defendant, he would have perfected the act, pointing out also that the second defendant had no attachment to any community in Nigeria to ensure that he would be available for his trial if granted bail.
Replying on point of law, Mordi prayed the court to discountenance the submission of the prosecution to the effect that the defendant is an American citizen by birth as there is nothing before the court to buttress that submission.
He said the second defendant who had been in custody for 50 days is eager to go to trial to prove his innocence.
After hearing the submissions of counsel, Justice Nwite adjourned till May 17, 2024, for ruling.
Gambaryan, who took a plea on behalf of the Company as its representative pleaded not guilty to the money laundering allegation preferred against him by the EFCC.
The anti-graft agency had charged Binance Holdings Limited, a cryptocurrency firm, and Tigran Gambaryan, the company’s head of financial crime compliance on a five-count charge bordering on money laundering.
In the charge filed on March 28 by the anti-graft agency, the company executives are being accused of money laundering to the tune of $35,400,000.
EFCC alleged in one of the counts that, the defendants, between January 2023 and January 2024 in Abuja, carried out a specialised business of other financial institutions without valid licence.
The offence is said to be contrary to Section 57(1) and (2) of the Banks and Other Financial, Institutions Act, 2020, and punishable under Section 57(5) of the same Act.
News
Court Gives Falanas, January Date To Prove Case Against VDM
By Kayode Sanni-Arewa
A Lagos High Court has adjourned the defamation suit brought by Femi Falana and his son against social media influencer, Vincent Otse, also known as VeryDarkMan, until January 23, 2025.
The case was brought by human rights activist Femi Falana and his son, Folarin, popularly known as Falz.
VeryDarkMan arrived in court dressed in a red native outfit, accompanied by fans who cheered him on, but the Falanas were not present.
The case could not proceed as several applications filed by the parties were still not included in the court file. As a result, the court decided to adjourn the hearing until January 23, 2025.
On October 14, Justice Matthias Dawodu ruled on an ex-parte application filed by the Falanas, granting them legal protection from defamation. The judge ordered that VeryDarkMan remove a defamatory video he posted on September 24, 2025, which targeted the senior lawyer and his son. Additionally, the court prohibited VeryDarkMan from posting or sharing any defamatory content about them on his social media accounts until the matter is resolved.
The Falanas had filed separate lawsuits seeking N500 million each in damages, claiming that VeryDarkMan posted a video accusing them of accepting N10 million from Idris Okuneye, also known as Bobrisky, to influence a legal matter.
They argued that VeryDarkMan knew the allegations were false but chose to spread them, causing harm to their reputations. The Falanas further pointed out that the video continues to circulate online, further damaging their reputations.
In response, VeryDarkMan applied to the court for permission to appeal the ruling.
He argued that refusing his request would be an injustice, as the case involves significant legal questions that require further examination. He stated, “A refusal to grant leave may result in the enforcement of a decision that does not reflect a correct application of the law, leading to outcomes that may be detrimental not only to the parties involved but also to the administration of justice as a whole. The appellate court’s role in clarifying and, where necessary, correcting trial court decisions is vital in maintaining the integrity of the judicial system.”
News
READ 8 Facts About New Lakurawa Terror Group in North West
By Kayode Sanni-Arewa
Lakurawa, a new terror group is now wreaking havoc in northwestern part of the country. It was once dismissed as harmless herders.
Initially seen as seasonal migrants, the Lakurawa group has evolved into a powerful militant force linked to jihadist networks in the Sahel.
With roots stretching back six years, Lakurawa has grown under the radar, exploiting Nigeria’s porous borders and limited government oversight.
Here’s what you need to know about this escalating threat and the challenges it poses to the region’s security.
From Herders to Terrorists
Originally seen as seasonal herders from Niger, the Lakurawa group quietly entered Sokoto communities in search of pasture, later gaining a reputation as militants with ties to jihadist networks across the Sahel.
Authorities’ Early Misjudgment
Locals first reported suspicious activities by Lakurawa herders nearly six years ago, but authorities dismissed them as non-violent. However, recent intelligence from Nigeria’s Defense Headquarters reclassifies Lakurawa as a new terror group with connections to extremist networks.
Cross-Border Threats
The Lakurawa exploit Nigeria’s porous borders with countries like Niger, Chad, and Mali, entering remote areas to promote radical ideology, often in Hausa and Fulfulde languages, and impose strict “Islamic” rules on communities.
Unusual Alliances
Invited by local leaders to fend off other bandits, Lakurawa quickly grew from an auxiliary force into a dominant presence, controlling communities through a mix of militant enforcement and religious influence.
Camp ‘Darul Islam’ in Forests
Lakurawa established camps around Gwangwano, Mulawa, Wassaniya, and Tunigara along the Nigeria-Niger border, naming them Darul Islam, or “Abode of Islam.” Their membership has since swelled to over 200 young men.
Escalation and Armed Attacks
Once tolerated by local communities, the group’s violent tendencies surfaced through alleged attacks on military bases and confrontations with Nigerian security forces, marking a shift to full-scale militancy.
Radical Ideology and Social Control
The group enforces stringent rules, often forbidding music and dancing, and collects levies disguised as religious Zakat. They pressure locals to obey these laws, maintaining authority over vulnerable communities.
A Growing Regional Concern
With ties to jihadist groups across the Sahel, Lakurawa’s presence reflects broader security challenges. The breakdown in joint border patrols after Niger’s recent coup has only worsened Nigeria’s exposure to such extremist threats.(PRNigeria)
News
It’s wrong to arrest individuals in place of suspects — Says PSC chairman
By Kayode Sanni-Arewa
The Chairman of the Police Service Commission, DIG Hashimu Argungu (retd) has condemned the practice by Nigeria Police Force operatives of arresting individuals in place of actual suspects.
He also frowned at the handcuffing of suspects during arrests, adding that the law prohibits these practices.
A statement on Wednesday by the spokesperson for the commission, Ikechukwu Ani, said Argungu made this known
during training on international Human Rights-based policing and effective oversight of personnel of the Police Service Commission.
Ani said the PSC chairman stressed that every suspect must be accorded humane treatment and must not be subjected to any form of torture, cruelty, inhuman, or degrading treatment.
The statement read, “DIG Hashimu Argungu, x-rayed human treatment of arrested suspects and declared that a suspect shall be accorded human treatment, having regard to his right to the dignity of his person and not be subjected to any form of torture, cru
Argungu noted that a suspect shall not be arrested merely on a civil wrong or breach of contract and shall be brought before the court as prescribed by law or otherwise released conditionally or unconditionally.
He explained that “a person shall not for any reason be arrested in place of a suspect adding that the law prohibits the handcuffing or any other unnecessary restrain of an arrested person, except if there is reasonable apprehension of violence or an attempt to escape; the restrain is considered necessary for the safety of the suspect or defendant or by order of court.”
Ani added the PSC chairman also noted that all over the world, police officers generally have broad powers to carry out their functions and duties.
“He noted that the constitution as amended and other procedural laws, however, place limits on how far Police can go in trying to enforce the law.
“According to him, one of the primary purposes of these laws is to protect citizens from abuses by the government, including police misconduct,” the statement added
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