Nigerian Court Discharges Binance Executives from Tax Evasion Case

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A Federal High Court of Nigeria has discharged Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited from the tax evasion case filed by the Federal Inland Revenue Service (FIRS). The court issued this ruling on Friday after the FIRS amended its charges in response to Binance appointing Ayodele Omotilewa as its Nigerian representative.

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The FIRS initially filed legal proceedings against Binance and Gambaryan on March 22, 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 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.

By Naija247news
By Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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