Binance tax evasion trial postponed to May 17 in Nigeria

A Nigerian court has adjourned the tax evasion trial of cryptocurrency exchange Binance and two of its executives to May 17.

According to local news agency Business Day, the Federal Inland Revenue Service (FIRS) has not filed a tax evasion charge against Binance. The FIRS lawyer argued that since both Binance and its executives were sued together, Gambrian should represent Binance as the lead defendant.

But Gambarian's lawyer, Chukukaka Ekwuezo, objected, citing Nigerian law that the main defendant, Binance, cannot plead until presented. Judge Emeka Nwite adjourned the case to May 17 when he delivered judgment.

Binance and its executives, Tigran Gambarian, a 39-year-old US citizen who serves as a subject of financial crimes, and Nadeem Anjarwala, a 37-year-old British-Kenya regional manager for Africa, were charged with four counts of tax evasion on February 28, during a visit to Nigeria.

The arrests came after the federal government banned cryptocurrency channels as part of its campaign to curb currency speculation. The court ordered Binance to provide the Nigerian government with information and details of Nigerian traders using the platform.

The charges include Binance's failure to register with the Nigerian Federal Inland Revenue Service (FIRS) for tax remittance. Gambarian appeared in court in Abuja on Friday but did not plead. However, Anjarwala was not present as he escaped from prison and left the country in March 2024.

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In addition to the tax evasion trial, Binance and its executives have been charged more than $35 million by Nigeria's anti-corruption agency, the Economic and Financial Crimes Commission (FCC), whose trial will continue on May 2.

Binance, which was not represented in court and was not immediately available for comment, said Thursday at the Token2049 crypto conference in Dubai that it is working closely with Nigerian authorities following the Gambian arrest.

Meanwhile, the Federal High Court in Abuja, Nigeria has once again adjourned the bail application hearing of Binsen executive Tigran Gambarian to remain in custody at Kuje Correctional Centre.

But Gambarian is accusing the government of violating his basic human rights. Gambarian's petition said his detention in Nigeria and confiscation of his passport is against the country's constitution, which guarantees the right of individuals to personal liberty.

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