- The Federal Inland Revenue Service (FIRS) has dropped tax charges against Binance executives Tigran Gambaryan, the crypto exchange's head of financial crime compliance, and Nadeem Anjarwalla, who fled.
- Dare Adekanmbi, the agency's spokesperson, has also reportedly confirmed the authority's decision and clarified that charges against the second and third defendants in the case have been dropped.
- This comes after FIRS confirmed Ayodele Omotilewa as Binance's representative and filed a new charge, this time with the exchange as the sole defendant.
In March 2024, FIRS filed tax evasion charges against Binance, alleging that the cryptocurrency platform violated four tax laws, and named Gambaryan and Anjarwalla as the second and third defendants.
The authority accused Binance of failing to register with the authorities for tax purposes, violating the country's tax law.
In a statement, Binance stated that the FIRS's action demonstrates that Gambaryan is not a decision-maker at Binance and should not be detained as the case progresses. Binance previously stated this in an April 2024 publication, adding that Gambaryan is "a strict law enforcement professional who is not part of Binance management."
The exchange is also awaiting a court decision to completely discharge Gambaryan from the case.
“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.”
However, Binance believes that Gambaryan can return home to his family if the Economic and Financial Crimes Commission (EFCC) takes the same steps as FIRS. The EFCC charged the exchange and its executives with money laundering following FIRS’s tax evasion charges.
Meanwhile, Gambaryan has been handling court cases on his own since his colleague escaped detention, and Binance has not yet appointed a legal representative.
It was previously reported that Gambaryan's physical health was deteriorating after he missed a court appearance in May 2024. According to a Binance spokesperson, his most recent diagnosis included malaria and pneumonia. Gambaryan is being held at the Kuje Correctional Centre in Abuja after pleading not guilty to money laundering charges.
The release of the two Binance executives does not mean that the dispute between the Nigerian government and Binance has been resolved; however, Binance has stated that it will continue to work with the Nigerian government to resolve this issue.
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