An Abuja Federal High Court on Friday discharged Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited from charges of tax evasion.
The case was originally filed by the Federal Inland Revenue Service (FIRS).
The court’s ruling followed the amendment of charges by the FIRS in response to Binance appointing a Nigerian representative, Ayodele Omotilewa.
The legal proceedings against Binance and Gambaryan were initially filed on March 22, 2024, by the FIRS, which accused them of tax evasion.
Subsequently, on May 17, 2024, the FIRS amended its lawsuit to allege that Binance had failed to collect and remit various taxes, including Value Added Tax (VAT) and Company Income Tax, as mandated by Section 40 of the FIRS Establishment Act 2007, as amended.
The court decided to discharge Gambaryan and Anjarwalla after Binance and the FIRS confirmed the appointment of Omotilewa as the company’s Nigerian representative.
This appointment prompted the FIRS to file new charges, listing Binance as the sole defendant in the ongoing case.
