June 14, (THEWILL)- The Federal High Court, Abuja, has discharged Tigran Gambaryan and Nadeem Anjarwalla, two Executives of a Cryptocurrency firm, Binance, from the tax evasion case filed by the Federal Inland Revenue Service (FIRS).
The court struck out the charges against the executives after Binance appointed a Nigerian representative, Ayodele Omotilewa, and the FIRS filed a fresh charge listing Binance as the sole defendant.
THEWILL earlier reported that the FIRS had on March 17, filed legal proceedings against Binance and its two Executives, accusing them of tax evasion.
The Service had on May 17, amended the charge, 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.
Meanwhile, the court has adjourned until July 12, to address the plea and consider whether the Nigerian representative should be obligated to appear in court.
