A Nigerian court has pushed back the hearing of a tax evasion trial involving Binance cryptocurrency exchange and two of its managers. The court session is now scheduled for May 17th. The postponement stems from the need for formally delivering the charges to the defendants, Binance included. Judge Emeka Nwite made this decision during court proceedings in Abuja. However, the main defendant, Binance, has not yet received the official charges from the Federal Inland Revenue Service (FIRS), which is prosecuting the case, leading to the delay.
In the courtroom, there was a debate about whether proper notice had been given to the defendants. The lawyers representing the Financial Intelligence and Response System (FIRS) claimed that Tigran Gambaryan, Binance’s head of financial crime compliance, had received sufficient notices and could therefore represent the company. However, Gambaryan’s attorney, Chukwuka Ikuazom, disagreed. According to Nigerian law, he argued, the main defendant must be served before any proceedings can advance. As a result, the case was postponed.
Binance Executives Face Tax Evasion Charges in Nigeria
Binance and some of its top officials, including Gambaryan and Nadeem Anjarwalla, who serves as Binance’s Africa representative, are accused of not registering with Nigeria’s Federal Inland Revenue Service (FIRS) for tax payments. This allegation results in four counts of tax evasion against them. During the court hearing, Gambaryan was present, but Anjarwalla was missing since he had left the country after escaping from custody in March 2024.
The situation stems from the Nigerian government’s broader attempts to manage cryptocurrency transactions, as these activities have raised suspicions of currency speculation. As a result, authorities have implemented stricter rules, such as mandating crypto exchanges like Binance to share information about their Nigerian users. Additionally, there are accusations against Binance and its leaders for laundering more than $35 million, which will be tackled in a separate trial set for May 2.
Gambaryan Files Human Rights Lawsuit Against Nigeria
During the ongoing tax evasion case, Tigran Gambaryan has brought a lawsuit against the Nigerian government. He claims that his fundamental human rights were violated through his detention and passport seizure. These actions, according to him, go against Nigeria’s constitutional guarantees for personal freedom. Currently, Gambaryan is still in detention at Kuje correctional center, and his bail request has been delayed as well.
At the Token2049 cryptoconference in Dubai, Binance, who weren’t present at the recent Nigerian court hearing, publicly declared their willingness to work with Nigerian officials. Binance representatives voiced their plans to address the troubles resulting from the detainment and accusations against their team members.
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2024-04-20 17:53