General
Court Dismisses Detained Binance Executive Bail Appeal
By Adedapo Adesanya
Justice Emeka Nwite of the Federal High Court in Abuja has rejected the fresh bail application by detained Binance executive, Mr Tigran Gambaryan.
The judge made the decision during his ruling on Friday, October 11, 2024.
On September 4, 2024, the Abuja court heard arguments regarding Mr Gambaryan’s new bail application between his lawyer, Mr Mark Mordi and the counsel for the Economic and Financial Crimes Commission (EFCC), Mr Ekele Iheanacho.
It was argued that Mr Gambaryan refused prescribed medications and food when attended to by a neurosurgeon in July 2024.
The EFCC submitted evidence and countered health claims made by the family and legal team of the detained executive, who is facing money laundering charges in Nigeria.
The EFCC also countered the health condition that Gambaryan can no longer walk due to a health condition involving a disk issue.
Mr Mordi applied for the court to admit the defendant to bail on liberal terms, or alternatively, to admit him to bail for six weeks on the basis of ill health.
He argued that the EFCC purportedly denied the defendant has a serious health issue, but exhibits, including the medical reports, show he needs medical care, citing strongly recommended surgery for his client.
He submitted that the defendant’s health challenges cannot be adequately managed in Nigeria.
The EFCC counsel, Mr Iheanacho urged the court to dismiss the fresh bail application, stating that Mr Gambaryan had filed an appeal against the first bail request that was rejected by the court.
He explained that the National Security Adviser (NSA) wrote to the Correctional Services requesting the defendant’s medical records.
He added that a response from the Correctional Center was received by the NSA on August 29, 2024, along with a report from Nizamiye Hospital, among others.
Judge Nwite on Friday held that it is not in dispute that Mr Gambaryan’s first bail application, which concerns health, has been appealed.
He stated that the current bail application amounts to an abuse of the court process because Gambaryan has a pending appeal against the refusal of the first bail.
He added that there are no new facts in the fresh bail application regarding medical care, as the EFCC has shown that Nigerian authorities and hospitals are capable of treating Gambaryan.
He said that since an appeal has been filed, a lawyer is restrained from re-litigating, especially having not withdrawn that appeal.
“On this leg alone, this bail application is bound to fail,” he said.
Furthermore, Mr Nwite claimed that renowned Nigerian medical experts are already managing Mr Gambaryan’s health.
However, the court ordered the Nigerian Correctional Service to refer Mr Gambaryan to any standard hospital in Abuja under security supervision.
By Adedapo Adesanya
The Minister of State for Petroleum Resources, Mr Ekperikpe Ekpo, has expressed his frustration towards the partial progress in Nigeria’s flagship Decade of Gas Initiative, advocating that it must now be aggressively accelerated.
Launched by the late former President Muhammadu Buhari in 2021, the scheme is a national policy drive declaring 2021–2030 as the country’s “Decade of Gas.” with the goal of transforming Nigeria from an oil-dependent economy into a gas-powered industrial nation, using its vast natural gas reserves (one of the largest in Africa) for economic growth.
However, speaking recently at the 14th Practical Nigerian Content (PNC) Forum in Yenagoa, Mr Ekpo said the policy has delivered some gains in LPG penetration, CNG rollout, and gas commercialisation, but “not at the scale Nigeria urgently requires.”
“We have made progress, but not enough,” the minister admitted. “The pace has been slower than expected, and we must move with far greater urgency.”
He cited persistent infrastructure gaps, gas supply volatility, funding constraints, and delayed policy execution as major setbacks.
“Critical pipelines are behind schedule. Feedstock shortages still hamper power and industries,” he said. “These challenges have limited the full realisation of the Decade of Gas vision.”
The minister, however, outlined a renewed push to accelerate delivery through tighter regulatory coordination and investment incentives.
“We are strengthening inter-agency alignment to remove approval bottlenecks,” Ekpo said. “The PIA gives us the fiscal tools to unlock more capital into midstream and domestic gas programmes.”
He noted measurable progress in domestic LPG consumption, clean cooking expansion, and flare gas commercialisation, calling them “strong foundations that must now be scaled up.”
“Our goal remains clear: affordable gas for power, households, industries and transport,” he said. “We are not abandoning the Decade of Gas; we are intensifying it.”
Mr Ekpo said the government will prioritise early delivery of key projects such as OB3, AKK, NLNG Train 7, Brass Fertiliser, and several gas-based industrial hubs.
“These projects will determine whether the Decade of Gas becomes a transformative legacy or a missed opportunity,” he warned.
The minister urged industry players, financiers and host communities to recommit to the national gas agenda.
“We need every stakeholder on board,” he said. “Nigeria cannot afford to slow down at a time when global markets are shifting and opportunities are emerging.”
By Adedapo Adesanya
Electricity supply was restored to residents of some parts of Lagos on Wednesday morning following a blackout spurred by a jumper cut that occurred in the Powerline area of Mosan-Okunola Local Council Development Area (LCDA) late on Monday.
The Ikeja Electricity Distribution Company (IKEDC) had announced a power outage in parts of its franchise, affecting the Ogba, Ikeja, and Alausa axis of Lagos on Tuesday.
In a message to customers, the DisCo said the power outage was due to a jumper cut at the Transmission Company of Nigeria’s (TCN) injection substation (ISS).
A jumper cut is an electrical fault that occurs when a jumper cable is damaged, disconnected, or intentionally severed.
The DisCo said the TCN’s technical team was already working to resolve the issue.
“Dear Customer, the current power outage is due to a 132kV jumper cut at the TCN Injection Substation (ISS),” the message read.
“The TCN technical team is already working to clear the fault to ensure supply is restored as soon as possible.”
Mr Kingsley Okotie, spokesperson of Ikeja DisCo, had also clarified that the power outage did not affect the entire franchise area of the company.
“It doesn’t totally affect the whole of our franchise. The message was sent to only customers in areas affected,” he said.
“We are still working to resolve the issues; that’s where we are at the moment.”
Our correspondent, who witnessed the development, reported that the jumper cut occurred around 11 pm on Monday, December 8, when a large spark occurred at the structure, leading to an immediate seizure of power supply. There was yet another minimal spark, but power was restored afterwards, likely from a back up source.
By Dipo Olowookere
The Governor of Rivers State, Mr Siminalayi Fubara, has left the Peoples’ Democratic Party (PDP) for the ruling All Progressives Congress (APC).
Mr Fubara, who was restored as Governor of the oil-rich state in September 2025, announced his defection to the APC at a stakeholders meeting at the government house in Port Harcourt, the state capital.
In March 2025, President Bola Tinubu declared a state of emergency on Rivers State, suspending Mr Fubara and lawmakers of the Rivers State House of Assembly for six months due to political unrest in the South-South state.
It was gathered that on Monday night, the governor visited Mr Tinubu at the Presidential Villa in Abuja for a meeting.
His defection from the PDP comes a few days after 16 members of the Rivers Assembly formally joined the APC due to crisis in the PDP.
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