A Federal High Court of Nigeria sitting in the Federal Capital Territory (FCT), Abuja, on Friday discharged Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited, from the tax evasion case filed by the Federal Inland Revenue Service (FIRS) against them.
News About Nigeria reports that this ruling is on the FIRS matter alone, as both detained Gambaryan and his fleeing colleague, Nadeem, are still defendants in the case filed by the Economic and Financial Crimes Commission (EFCC).
The court’s decision follows the FIRS amendment in its charges against the Binance executives after the global cryptocurrency platform appointed Ayodele Omotilewa as its Nigerian representative.
Recall that FIRS filed legal proceedings against Binance and Gambaryan on March 22, 2024, accusing them of tax evasion.
Subsequently, on May 17, 2024, FIRS amended its lawsuit, alleging that Binance failed to collect and remit various taxes, particularly value-added tax and company income tax, as required by Section 40 of the FIRS Establishment Act 2007, as amended.
However, after Omotilewa was appointed the Nigerian representative by the cryptocurrency firm, the FIRS filed new charges, listing Binance as the sole defendant in the case.
Delivering judgement on the case today, Justice Emeka Nwite held that the “charges filed on March 22, 2024, and May 17, 2024 are hereby struck out.”
Also, Justice Nwite further struck out the names of Gambaryan and Nadeem from the case, directing that the case be adjourned to July 12, 2024, for a plea.
He also directed the lawyers to the parties to file processes on whether the Nigerian representative should be in the dock or not.
