Saturday, 15 June 2024 02:54

Court discharges Binance executive as FG amends tax evasion charges

Rate this item
(0 votes)

The Federal Inland Revenue Service says it is dropping the tax charges against Tigran Gambaryan, Binance’s head of financial crime compliance.

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.

A federal high court in Abuja discharged the two executives on June 14, after the FIRS confirmed the appointment of Ayodele Omotilewa as the firm’s representative — with FIRS filing a fresh charge listing the exchange as the sole defendant.

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.

 

The Cable

July 12, 2024

FG brokers oil supply deal between crude producers and refineries

Nigeria's oil regulator has struck a deal with producers to allow sales of crude to…
July 12, 2024

Kenya protesters win another round, forces president to fire entire cabinet

Kenyan President William Ruto on Thursday fired his entire cabinet apart from the foreign minister,…
July 11, 2024

How to ask better questions to solve any problem

It’s easy to take something for granted when it’s a daily (if not hourly) part…
July 06, 2024

Man sneezes gut out at restaurant

A very unfortunate Florida man was having breakfast in a diner when a sneeze caused…
July 12, 2024

Public officials received N721bn in bribes in 2023 – NBS

A new report from the National Bureau of Statistics (NBS) has revealed that Nigerian public…
July 12, 2024

Here’s the latest as Israel-Hamas war enters Day 280

Israel bombards Gaza City in one of the fiercest weeks of war, killing 26 Israel…
June 19, 2024

Chips maker Nvidia rises to world’s most valuable company

Nvidia has become the world’s most valuable company following a staggering rally in its shares,…
June 18, 2024

Amusan secures fourth straight national title in 100m hurdles

Tobi Amusan has claimed her fourth consecutive national title in the women’s 100 metres hurdles…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2024 NewsScroll. All rights reserved.