A senior executive at Binance, Tigran Gambaryan who was detained and tried on behalf of Binance for fraudlent allegations linked to Binance’s activities in Nigeria is still in Nigeria. Recent development shows that Tigran and Binance is seeking for possible bail for him base on health reason and this case seems to have drawn global attention.

Here are two main reasons why Nigerian Government wont release him in September

Resistance to Pressure and National Image:
The Nigerian Government is unlikely to release Tigran Gambaryan in September to avoid appearing weak in regulatory matters. The government doesn't want to be seen as yielding to external pressure, as this could undermine its authority and image. There is a rumor that Tigran was offered the chance to bribe his way out of custody, a claim denied by the Nigerian Government,and this act has further worsen the situation. Additionally, Tigran has reportedly rejected medical services provided by Nigerian authorities, according to the Economic and Financial Crimes Commission (EFCC). This refusal complicates any argument for bail on health grounds, as granting release for medical reasons would suggest that Nigerian healthcare is inadequate, thus tarnishing the country's reputation further. Had Tigran accepted medical treatment in Nigeria and found it ineffective, he might have had a stronger case for release based on health concerns.

Legal Proceedings and Court Hearing:
The next court hearing for Tigran's case is scheduled for October 9, 2024, at the Federal High Court in Abuja. Given the proximity of this date, the Nigerian Government is unlikely to release him before then, particularly because there is no guarantee that he would return for his trial. Releasing him prematurely could jeopardize the legal process, so the government prefers to keep him in custody until the next hearing.

Although there is a possibility that Tigran Gambaryan could eventually be released, it is highly improbable that it will occur in September due to the government's desire to maintain a strong stance on regulatory enforcement and ensure compliance with the ongoing legal proceedings.

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