Nigeria Court Adjourns Hearings for Binance, Execs’ Tax Evasion Cases: Reports

Nigeria Court Delays Proceedings for Binance and Executives’ Tax Evasion Cases: Reports

A Nigerian court has adjourned the hearings for the tax evasion cases against cryptocurrency exchange Binance Holdings and two of its executives, who are currently detained in the country, local news outlets have reported. The Federal High Court, located in Nigeria’s capital, Abuja, postponed the proceedings because the tax authority, the Federal Inland Revenue Service (FIRS), was unable to formally serve the charges to Binance’s Head of Financial Crime Compliance, Tigran Gambaryan, while he was in custody. Gambaryan appeared in court on Thursday, while the other detained executive, Nadeem Anjarwalla, has escaped custody. The Binance Holdings hearing has been rescheduled for April 8, while the case involving Gambaryan and Anjarwalla has been adjourned until April 19. The FIRS filed tax evasion charges against Binance in March, accusing the company of non-payment of VAT, Company Income Tax, failure to file tax returns, and aiding customers in evading taxes through its platform. Previously, Gambaryan and Anjarwalla were detained in Nigeria on allegations of operating illegally and manipulating the country’s economy. Gambaryan will remain in the custody of Nigeria’s Economic and Financial Crimes Commission. Binance, in a blog post, stated that Gambaryan has no decision-making authority in Nigeria and urged stakeholders to omit him from discussions.