Nigeria's tax agency drops charges against Binance executives

AFRICAN STOCKS AND FINANCEJune 15, 2024 at 11:34 PM UTC

TLDR

FIRS withdraws tax charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla, recognizing Ayodele Omotilewa as Binance's representative.
Charges against other defendants dropped, FIRS files new charge naming Binance as sole defendant in legal proceedings.
Development in ongoing legal case sees shift in focus towards Binance as central figure in tax-related matter.

The Federal Inland Revenue Service (FIRS) has withdrawn tax charges against Binance executives Tigran Gambaryan, head of financial crime compliance, and Nadeem Anjarwalla, who is reportedly abroad.

Dare Adekanmbi, spokesperson for FIRS, confirmed the decision, stating that charges against the other defendants in the case have also been dropped.

Following these developments, FIRS has recognized Ayodele Omotilewa as Binance's representative and has filed a new charge, naming the embattled exchange as the sole defendant in the ongoing legal proceedings.

Points clés à retenir

In March 2024, the FIRS filed tax evasion charges against Binance, accusing the cryptocurrency platform of violating four tax laws in Nigeria. The charges named Tigran Gambaryan and Nadeem Anjarwalla as the second and third defendants, respectively. FIRS alleged that Binance failed to register with the authorities for tax purposes, contravening the country's tax regulations. In response, Binance issued a statement asserting that FIRS's actions indicate Gambaryan is not a decision-maker within Binance and should not be detained during the legal proceedings. Binance reiterated this stance in an April 2024 publication, describing Gambaryan as "a strict law enforcement professional who is not part of Binance management." The exchange is now awaiting a court decision regarding the complete discharge of Gambaryan from the case.

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