Court Clears Binance Executives
Binance relieved as the Federal High Court in Abuja has dismissed tax evasion charges against its executives, Tigran Gambaryan and Nadeem Anjarwalla. This decision, announced on Friday, comes after the Federal Inland Revenue Service (FIRS) submitted amended charges, removing the allegations against the duo who had fled to Kenya.
Appointment of Nigerian Representative
Binance’s decision to appoint Ayodele Omotilewa as its Nigerian representative played a crucial role in this development. The original charges, filed on March 22, 2024, accused the cryptocurrency exchange and its executives of tax evasion. The court’s latest decision has brought a significant relief to the platform.
Response from Binance
Binance expressed relief at the dismissal of charges against Gambaryan and Anjarwalla. The platform highlighted that these individuals are not decision-makers and should not be detained while the company resolves its issues with the Nigerian government. Binance is now looking forward to a complete discharge of Gambaryan from the case.
Health Concerns and Appeals
The company also urged the Economic and Financial Crimes Commission (EFCC) to drop related charges, allowing Gambaryan to return to his family. His health has deteriorated significantly during his 110-day detention, with diagnoses of malaria and pneumonia.
Commitment to Resolution
Binance commended the FIRS for their professionalism and reiterated its commitment to resolving the tax issues transparently and cooperatively with the Nigerian government. The next hearing is scheduled for June 19, 2024, where the enforcement of fundamental rights will be addressed.
Future Implications
This case underscores the ongoing scrutiny of cryptocurrency platforms in Nigeria. The outcome may influence future regulatory actions and the broader relationship between the Nigerian government and international crypto firms.
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