In a significant legal development, the Federal High Court in Abuja has dismissed tax evasion charges against Tigran Gambaryan and Nadeem Anjarwalla, officials of Binance Holdings Limited. The case, originally brought by the Federal Inland Revenue Service (FIRS), saw a pivotal turn following Binance’s appointment of Ayodele Omotilewa as its Nigerian representative.
The FIRS initially filed charges against Binance and its officials on March 22, 2024, alleging tax evasion. Subsequently, on May 17, 2024, FIRS amended its lawsuit, focusing on Binance’s failure to collect and remit various taxes, including Value Added Tax (VAT) and Company Income Tax, as stipulated by the FIRS Establishment Act 2007.
The court’s decision to discharge Gambaryan and Anjarwalla came after the confirmation of Omotilewa’s appointment as Binance’s local representative. With this confirmation, FIRS revised its legal strategy, now pursuing charges against Binance alone, thereby excluding Gambaryan and Anjarwalla from further proceedings.
