Nigeria Drops Tax Accusations Against Binance Executives

The Nigerian Federal Inland Revenue Service (FIRS) has decided to drop tax allegations against Tigran Gambaryan and Nadeem Anjarwalla, two top executives at Binance. However, the focus of the charges has now shifted solely to Binance, prompting speculation about the future of the cryptocurrency company.

This change in direction came after significant international pressure, including a letter from U.S. federal prosecutors urging the U.S. Department of Justice to intervene with the Nigerian government.

Initially, FIRS had accused both Gambaryan and Anjarwalla of tax offenses. However, in a recent turn of events, the agency has chosen to target Binance exclusively, particularly through its local representative. This means that Gambaryan is no longer required to appear in court, with Binance now standing as the sole defendant.

Observers believe that FIRS’ decision to drop charges against the executives may have been influenced by the recent letter sent to the U.S. Department of Justice, where over 100 former senior executives called for pressure on Nigeria. The letter raised concerns about the conditions at Kuje Prison, where Gambaryan was detained, noting that it housed some of the country’s most dangerous criminals.

Despite the dismissal of tax allegations, Gambaryan and Anjarwalla still face legal issues in a separate money laundering case. The next hearing for this case is scheduled for June 19, where an application for the enforcement of fundamental rights will be considered. The trial is set to resume on June 20, with Gambaryan remaining in custody at Kuje Prison.