On Friday, an Abuja Federal High Court discharged Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited from charges of tax evasion.
The case was originally brought before the court by the Federal Inland Revenue Service (FIRS).
The court’s ruling followed an amendment to the charges by the FIRS, after Binance appointed a Nigerian representative, Ayodele Omotilewa.
The FIRS initially filed legal proceedings against Binance and Gambaryan on 22 March 2024, accusing them of tax evasion.
On May 17, 2024, the FIRS amended its lawsuit, alleging that Binance failed to collect and remit various taxes, particularly Value Added Tax (VAT) and Company Income Tax, as required by Section 40 of the FIRS Establishment Act 2007, as amended.
The court’s decision to discharge Gambaryan and Anjarwalla came after Binance and the FIRS confirmed the appointment of Omotilewa as the company’s representative.
Following this confirmation, the FIRS filed new charges listing Binance as the sole defendant in the case.
Alleluia is the Assistant Editor and Content Writer at LagosPost.ng. She is a prolific writer and editor, she has written features and news stories on Lifestyle, Sports, Business, Politics and B2B marketing. She is also an event coordinator, host and social media content creator.
