Crypto exchange platform, Binance has reacted after its official executives, Tigran Gambaryan and Nadeem Anjarwalla were discharged of tax evasion charges filed by the Federal Inland Revenue Service of Nigeria.
They were cleared on Friday by the Federal High Court in Abuja, FCT.
The court’s decision came on Friday after the FIRS submitted an amended charges that effectively dropped the tax evasion allegations against Gambaryan and Anjarwalla, who absconded to Kenya.
This change followed Binance’s notification of appointing a Nigerian representative, Ayodele Omotilewa, to handle its local operations here. The original charges, filed on March 22, 2024, accused Binance and the executives of tax evasion.
In a shared note with the platform, it was revealed that tax charges against Gambaryan and Anjarwalla have been dropped because they are decision-makers at the company.
The platform stated, “We are relieved that the Federal Inland Revenue Service (FIRS) has served and filed amended charges today, resulting in the tax charges against Tigran Gambaryan being dropped.
It said, “This further illustrates that Tigran is not a decision-maker at Binance and does not need to be held in order for Binance to resolve issues with the Nigerian government. We await the court’s ruling on this, discharging Tigran from this matter completely.”
Binance also called on the Economic and Financial Crimes Commission (EFCC) to take similar steps, allowing Gambaryan to return home to his family.
It emphasized Gambaryan’s deteriorating health due to 110 days of detention, during which he had been diagnosed with malaria and pneumonia.
They said, “We commend the FIRS for their diligence and professionalism throughout this process. This situation unequivocally demonstrates Binance’s commitment to resolving this issue with the government transparently and cooperatively”.
Also that, “In order for Tigran to be allowed to go home to his family, we are hopeful that the Economic and Financial Crimes Commission (EFCC) will take similar steps”.
“Tigran has been detained for 110 days, and his physical health is deteriorating, including a recent malaria and pneumonia diagnosis. Binance is committed to continuing to work with the Nigerian government to resolve this,” They added.
The next hearing of the case is scheduled for June 19th, 2024, where the application for an order for the enforcement of fundamental rights will be heard.
On June 20th, the EFCC trial is due to continue, while Tigran will remain detained at Kuje prison.
Since Tigran collapsed in court on May 23rd with Malaria, his health conditions have worsened and Tigran now also has pneumonia.
Despite a court order by Justice Emeka Nwite to take Tigran to the hospital immediately, it took the prison authorities 11 days to take him for a brief check-up in the hospital.
It was reported last week that 16 US Members of Congress, including the chair of the Foreign Affairs Committee, Michael McCaul wrote to President Joe Biden of USA, highlighting that he is a “U.S. Citizen wrongfully detained by a foreign government,” and urging him to do more to secure his release.
Recall that the Federal Government had accused the cryptocurrency exchange of manipulating foreign exchange (FX) rates, which led to increased scrutiny of crypto trading platforms.
Separately, the EFCC is prosecuting Binance and also its executives on charges of alleged money laundering and foreign exchange violations.
Nigerian authorities, on February 28, 2024, detained two senior Binance executives when they arrived in Nigeria for a meeting following the Federal Government’s ban on cryptocurrency channels, part of a broader campaign against currency speculation.
saharandaily