The Federal High Court in Nigeria dismissed Tigran Gambaryan and Nadeem Anjarwalla from the FIRS tax evasion case against Binance, after the company hired a representative in Nigeria.
The charges against this popular exchange include the lack of proper collection and remittance of taxes, including the VAT and the CIT from the company’s operations in Nigeria.
Both men were arrested in February after coming to Nigeria to attend to authorities after the Giant of Africa started operations against the use of localized virtual money trading sites, which the country claimed had led to a sharp decline of the value of its local naira currency.
The allegations that were levelled against them include money laundering as well as being involved in the business of money transfer without a licence by engaging in business of more than $35 million.
Gambaryan has pleaded not guilty regarding the charges levelled against him; on the other hand, Anjarwalla has not commented on the charges taken against him
Further hearings in the case are scheduled for June 19 and 20.
