Nigeria’s tax authorities drop charges against Binance’s senior executives

What’s new? The Nigeria Federal Inland Revenue Service (FIRS) has dropped charges against Binance senior executives Tigran Gambaryan and Nadeem Anjarwall. They were detained by local authorities after arriving in the country to negotiate claims against the exchange in February. At the moment, only the company itself remains a defendant in the criminal case for non-payment of taxes.

Material by CoinDesk

What else is known? Earlier this year, the Nigerian authorities accused the exchange of operating without a license and tax evasion for more than $20 billion, which allegedly caused the collapse of the national currency.

The defendants were arrested as the head of Binance’s financial crime unit and US citizen Tigran Gambaryan and the exchange’s director for West and East Africa Nadeem Anjarwall, who has dual citizenship of the UK and Kenya. Anjarwalla escaped arrest on a false passport to Kenya in late March, and Nigeria sought his extradition through Interpol.

In turn, Gambaryan continued to be held under arrest. As reported by his relatives, the senior executive was placed in a prison in the Kuje district for violent criminals and terrorists, where he contracted a severe infection, which later developed into pneumonia. During one of the sessions, Gambaryan lost consciousness, but the authorities did not transfer him to a hospital despite a court order to that effect.

Later, two open letters were drafted in Gambaryan’s defense. Members of Congress appealed to President Joe Biden to treat the situation as a hostage situation and to facilitate his release as soon as possible.

Then over a hundred former prosecutors and oversight agency officials called on Secretary of State Antony Blinken to secure Gambaryan’s immediate release.

Binance during this period also tried to convince Nigerian authorities that the two senior executives did not have decision-making authority in the company and therefore could not be defendants.

A hearing to review the charges is scheduled for June 19. For now, Gambaryan remains in prison despite his serious condition. His wife Yuki Gambaryan has stated that his life is in danger and the US authorities should be more active in promoting his release.