Nigeria, April 8 -- The Federal High Court in Abuja on Monday ordered the remand of a top executive of crypto company Binance in a prison in Abuja after postponing the hearing of his bail application for 11 days.

The judge, Emeka Nwite, ordered Tigran Gambaryan's remand in prison pending the hearing of his bail application, expected to come up on 18 April.

Mr Nwite issued the remand order after the defendant's arraignment on five counts of money laundering on Monday.

The judge, in issuing the order, agreed with the contention of the prosecution that the appropriate place of remand of a defendant after arraignment is the correctional centre.

The Economic and Financial Crimes Commission (EFCC) had, on 28 March, charged Mr Gambaryan alon...