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Market News

FIRS Faults Nigeria for Not Bringing Binance Exec to Court

Wednesday was scheduled for the arraignment of Binance and its executives but Gambaryan did not show up.

Written By Ezra Kaimenyi
Published May 23, 2024 6:04 PM·Updated 2 years ago
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Binance Exec. Collapses in Court Amid Money Laundering Trial

The Federal Inland Revenue Service (FIRS) has blamed the Nigeria Correctional Service operatives for failing to produce Binance Executive Tigran Gambaryan in court to face tax evasion charges. Gambaryan, remanded in prison after his last court appearance, was absent on Wednesday, stalling the legal proceedings.

FIRS counsel Moses Idehu told Justice Emeka Nwite that it was the prison service’s responsibility to bring the defendants to court. The Nigerian government has accused the cryptocurrency exchange of influencing foreign exchange rates and detained two of its executives.

Nadeem Anjarwalla, the regional manager for Africa, had escaped custody earlier and was later tracked in Kenya while Gambaryan remained in detention.

FIRS previously charged Binance with failing to collect and remit taxes, including VAT and company income tax. Idehu requested an adjournment to determine why the correctional service failed to produce Gambaryan.

Gambaryan’s lawyer, Chukwuka Ikwuazo, urged the judge to remove Nadeem Anjarwalla from the amended charges since he is “at large.” The FIRS counsel agreed, and the court adjourned the case to June 14 for arraignment.

Meanwhile, Binance spokesperson Ivy Shirinda expressed disappointment over Gambaryan’s continued detention, calling the charges meritless and urging for his release while discussions with Nigerian officials continue.

Also Read: Binance CEO Demands Release of Tigran Gambaryan in Nigeria

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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