A Federal High Court in Nigeria has discharged Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited from charges of tax evasion.
The Federal Inland Revenue Service (FIRS) had initially filed the case but amended the charges following Binance’s appointment of a Nigerian representative, Ayodele Omotilewa.
The FIRS originally accused Binance and its executives of failing to collect and remit Value Added Tax and Company Income Tax as mandated by the FIRS Establishment Act 2007. However, after Binance confirmed Omotilewa’s appointment, the FIRS revised the lawsuit, naming Binance as the sole defendant.
Judge Simon Amobeda’s ruling reflects the court’s acknowledgment of the updated representation by Binance in Nigeria, leading to the discharge of Gambaryan and Anjarwalla from the case.
