By Vivian Okejeme
Justice Emeka Nwite of the Federal High Court sitting Abuja, Friday, discharged two Binanace executives, Tigran Gambaryan, a 39-year-old American, and fleeing Nadeem Anjarwalla over alleged tax evasion.
The Federal Inland Revenue Service (FIRS) is prosecuting the executives of Cryptocurrency exchange platform, Binanace on a four-count charge bordering on alleged tax evasion.
The discharged ruling was following fresh amended charges brought by the FIRS with a notice from Binance about its appointment of a Nigerian representative by the name of Ayodele Omotilewa.
During the proceedings, Binance’s legal counsel informed the court about the appointment of its Nigerian representative, which led to the FIRS discontinuing the case against Gambaryan and Nadeem.
In the fresh charge, the Binance was accused of offering services to Nigerians without deducting necessary Value Added Taxes (VAT) and CIT, among other tax-related offenses from it’s operation in Nigeria.
The prosecution at the junction requested the Binanace representative take the plea on behalf of the platform.
Reacting, the defence argued that Nigerian law doesn’t mandate such a procedure for corporate representatives.
Consequently, Justice Nwite struck out the previous charges and names of Gambaryan and Nadeem from the case, directing it to proceed with Binance alone.
The court adjourned to July 12th for arraignment.
