An Abuja Federal High Court has discharged Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited from charges of tax evasion.
The ruling, delivered on Friday, followed the Federal Inland Revenue Service’s (FIRS) decision to amend its charges after Binance appointed a Nigerian representative, Ayodele Omotilewa.
The case was initially filed by the FIRS on March 22, 2024, accusing Binance and Gambaryan of failing to collect and remit various taxes, including Value Added Tax and Company Income Tax, in violation of Section 40 of the FIRS Establishment Act 2007.
On May 17, 2024, the FIRS amended its lawsuit to further allege tax evasion by the company.