The Federal Inland Revenue Service says it is dropping the tax charges against Tigran Gambaryan, Binance’s head of financial crime compliance.
The charges were dropped on June
14.
Confirming the development, Dare Adekanmbi, the agency’s
spokesperson, said the federal government “is dropping charges against the two
individuals sued along with the cryptocurrency firm, Binance”.
“Please note that the charges are being dropped against the
second and the third defendants in the matter,” he added.
Speaking in a statement on Friday, Binance said the
development illustrates that Gambaryan is not a decision-maker at the
cryptocurrency firm.
“We are relieved that the Federal Inland Revenue Service
(FIRS) has served and filed amended charges today, resulting in tax charges
against Tigran Gambaryan being dropped,” the statement reads.
“Further illustrating 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 commended the FIRS for their diligence and
professionalism throughout this process.
The company said the situation unequivocally demonstrates
its commitment to resolving the issue with the government transparently and
cooperatively.
Gambaryan and Nadeem Anjarwalla, Binance’s regional manager
for Africa; were detained by the Nigerian authorities on February 28.
Although Anjarwalla escaped from the custody of the office
of the national security adviser (ONSA), both executives, alongside Binance,
were charged by the federal government for tax evasion and money laundering.
On March 25, FIRS filed a criminal charge against Binance
for “tax evasion”.
According to the service, the move was to uphold fiscal
responsibility and safeguard the economic integrity of the country.
The lawsuit, designated as suit number FHC/ABJ/CR/115/2024,
was said to “implicate Binance with a four-count tax evasion accusation”.
On May 17, the FIRS filed an amended four-count charge
against Binance Holdings Limited and its executive, Gambaryan, on alleged tax
evasion.
The matter drew the attention of lawmakers in the United
States who accused the Nigerian government of taking Gambaryan, “hostage”.
In response, the federal government said due processes were
being applied in the ongoing trial of Binance.
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