Following the postponement of his bail hearing, the Nigerian High Court in Abuja has instructed that Tigran Gambaryan, a Binance executive, be kept in prison until his rescheduled hearing on April 18, despite declaring his innocence against money laundering allegations.

Gambaryan, who is a US citizen, is facing multiple money laundering charges and will be detained at the Kuje Correctional Center until the start of his trial on May 2. Today’s court session came after Gambaryan's arrest over six weeks ago regarding Binance's alleged role in exacerbating Nigeria's foreign exchange issues. His colleague, Nadeem Anjarwalla, fled custody last month and is being prosecuted in his absence.

At present, Binance has not provided any response to inquiries from CryptoSlate regarding the matter.

The court based its decision on Gambaryan's association with Binance in Nigeria, notably organizing cryptocurrency fraud detection training for local law enforcement. The judge asserted that Gambaryan's denial of the charges related to Binance's activities was unfounded, highlighting the executives' prior representations of the crypto exchange in Nigeria and their extended stay in the country since February.

Despite Gambaryan's legal team's attempts to secure his detention under the Economic and Financial Crimes Commission, the court ruled that he should be held at Kuje Correctional Center due to the precedent of Nigerian convicts being incarcerated in the United States.