Court discharges Tigran Gambaryan, Nadeem from tax evasion case against Binance

An Abuja Federal High Court on Friday discharged Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited for tax evasion.

The case was filed before the court by the Federal Inland Revenue Service, FIRS.

This court gave the ruling on Friday after the FIRS amended its charges in response to Binance appointing a Nigerian representative, Ayodele Omotilewa.

The FIRS initially filed legal proceedings against Binance and Gambaryan on March 22, 2024, accusing them of tax evasion. On May 17, 2024, the FIRS amended its lawsuit, alleging that Binance failed to collect and remit various taxes, particularly Value Added Tax and Company Income Tax, as required by Section 40 of the FIRS Establishment Act 2007, as amended.

The court’s decision to discharge Gambaryan and Anjarwalla came after Binance and the FIRS confirmed the appointment of Omotilewa as the company’s representative.

Following this confirmation, the FIRS filed new charges listing Binance as the sole defendant in the case.