The Federal High Court in Abuja has discharged Tigran Gambaryan, an executive of Binance Holdings Limited, from the tax evasion charges brought against him by the Federal Inland Revenue Service (FIRS).
This decision comes after Binance appointed Ayodele Omotilewa as its official representative in Nigeria.
Justice Emeka Nwite, in his ruling, discharged and struck out Gambaryan’s name from the four-count charge, making Binance Holdings Limited the sole defendant. The FIRS, represented by Moses Ideho, filed a fresh amended charge reflecting this change.
During the court session, Binance’s counsel, Tonye Krukrubo, confirmed the appointment of Omotilewa. The FIRS acknowledged the notice, which was dated June 13, 2024.
The court witnessed a heated debate over whether Omotilewa should be docked to take a plea on behalf of Binance. Krukrubo argued against it, stating that Omotilewa was only appointed to receive legal processes. However, Ideho insisted, citing Section 481 of the Administration of Criminal Justice Act (ACJA), that a representative must be docked in criminal proceedings.
Justice Nwite ordered the parties to file written addresses on this matter and adjourned the case until July 12 for a plea. He also granted the substitution of the amended charge dated June 13 and struck out the earlier charges from March 22 and May 17, 2024.
Despite the discharge from the FIRS case, Gambaryan and Anjarwalla remain involved in a separate money-laundering case filed by the Economic and Financial Crimes Commission (EFCC). Gambaryan, who has been detained since February, has experienced severe health issues, including malaria and pneumonia, while in custody.
The charges against Binance are part of wider concerns by Nigerian authorities over the influence of cryptocurrency trading on the country’s economy. Binance has been accused of failing to register with the FIRS and remit taxes, including VAT and Company Income Tax, from its operations in Nigeria.
The court will reconvene on July 12 to address the plea and the procedural question of whether Omotilewa should be docked as the company’s representative. Meanwhile, the separate money-laundering case against Gambaryan continues, with a hearing scheduled for June 19.
