The Federal Inland Revenue Service has dropped tax charges against Tigran Gambaryan, Binance’s head of financial crime compliance.
According to TheCable, the charges were withdrawn on June 14.
Dare Adekanmbi, the agency’s spokesperson, confirmed the development, saying the federal government “is dropping charges against the two individuals sued along with the cryptocurrency firm, Binance”.
He added:
“Please note that the charges are being dropped against the second and the third defendants in the matter.”
Speaking in a statement on Friday, Binance said the development illustrates that Gambaryan is not a decision-maker at the cryptocurrency firm.
The statement reads:
“We are relieved that the Federal Inland Revenue Service (FIRS) has served and filed amended charges today, resulting in tax charges against Tigran Gambaryan being dropped.”
“Further illustrating that Tigran is not a decision-maker at Binance and does not need to be held for Binance to resolve issues with the Nigerian government.
“We await the court’s ruling on this, discharging Tigran from this matter completely.”
Binance also praised the FIRS for their effort and professionalism throughout the process.
According to the corporation, the scenario indicates its willingness to address the matter with the government openly and cooperatively.
Gambaryan and Nadeem Anjarwalla, Binance’s regional manager for Africa, were detained by Nigerian police on February 28.
Although Anjarwalla escaped from the office of the National Security Adviser (ONSA), the federal authorities charged both executives and Binance with tax fraud and money laundering.
On March 25, FIRS filed a criminal complaint against Binance for “tax evasion”.
According to the service, the measure was intended to maintain fiscal responsibility and protect the country’s economic integrity.
On May 17, the FIRS filed an updated four-count complaint of suspected tax evasion against Binance Holdings Limited and its executive, Gambaryan.
The issue grabbed the attention of US politicians, who accused the Nigerian government of holding Gambaryan “hostage”.
The federal government responded by stating that due process was being followed in Binance’s ongoing trial.