LAGOS, Nigeria (VOICE OF NAIJA)-The Federal High Court of Nigeria has cleared Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited of tax evasion charges brought by the Federal Inland Revenue Service (FIRS).
The ruling was made on Friday after the FIRS revised its charges in response to Binance naming Ayodele Omotilewa as its Nigerian representative.
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The Federal Inland Revenue Service (FIRS) launched legal action against Binance and Tigran Gambaryan on March 22, 2024, accusing them of evading taxes.
On May 17, 2024, the FIRS amended its lawsuit, claiming that Binance did not collect and remit several taxes, including Value Added Tax and Company Income Tax, as mandated by Section 40 of the amended FIRS Establishment Act of 2007.
The court decided to discharge Gambaryan and Anjarwalla after Binance and the FIRS confirmed Omotilewa’s appointment as the company’s representative.
Subsequently, the FIRS filed new charges, naming Binance as the sole defendant in the case.