Binance 'relieved' as Nigeria drops tax charges against its executives

Crypto exchange Binance said it was “relieved” following news that Nigerian authorities had dropped tax charges against its executives Tigran Gambaryan and Nadeem Anjarwalla, with Binance now the sole defendant. 

Nigeria’s Federal Inland Revenue Service (FIRS) served and filed amended charges today, a Binance spokesperson confirmed, resulting in the tax charges being dropped. The pair still face money laundering charges in the country, alongside Binance.

Gambaryan, a former Special Agent for the U.S. IRS and Binance’s Head of Financial Compliance, and Anjarwalla, Binance’s Africa Regional Manager, were detained following their arrival in Nigeria’s capital city, Abuja, on Feb. 26, amid accusations of Binance making illegal-transaction profits locally. Criminal charges were filed against Binance and the two executives on Feb. 28 in a $35 million money laundering and tax violation indictment. Anjarwalla later escaped from custody on March 22, though Gambaryan remains in detention.

"We commend the FIRS for their diligence and professionalism throughout this process. This situation unequivocally demonstrates Binance’s commitment to resolving this issue with the government transparently and cooperatively.”

The Block reached out to the FIRS for comment.

US lawmakers urge 'immediate action' to help Binance exec 

Last week, U.S. lawmakers sent a letter to President Joe Biden, Secretary of State Antony Blinken and Special Presidential Envoy for Hostage Affairs Roger Carstens, urging them to take immediate action to bring Binance executive ​​Tigran Gambaryan home from detention in Nigeria.

“Mr. Gambaryan’s health and well-being are in danger, and we fear for his life. Immediate action is essential to ensure his safety and preserve his life. We must act swiftly before it is too late,” they wrote.

In a court hearing on May 22, Gambaryan was absent, with the court, prosecutors and defense team seemingly unaware of his whereabouts or condition. When the court reconvened the next day, Gambaryan was present but “slumped over in his chair” and could not stand when called, collapsing to the floor, according to the U.S. lawmakers’ letter.

Amid reports that Gambaryan tested positive for malaria, the judge ordered he be sent to a private hospital for treatment. However, the prison did not fully comply with the court order, the lawmakers said, accusations Nigeria has denied.

“In order for Tigran to be allowed to go home to his family, we are hopeful that the Economic and Financial Crimes Commission (EFCC) will take similar steps," the Binance spokesperson said today, referring to the outstanding money laundering charges. “Tigran has been detained for 110 days, and his physical health is deteriorating, including a recent malaria and pneumonia diagnosis. Binance is committed to continuing to work with the Nigerian government to resolve this.”

“Tigran is not a decision-maker at Binance and does not need to be held in order for Binance to resolve issues with the Nigerian government,” the spokesperson added. “We await the court's ruling on this, discharging Tigran from this matter completely.”