Chukwuka Ikuazom, the attorney for Gambaryan, protested, citing Nigerian law and claiming he couldn’t enter a plea until Binance, the main defendant, was served.
The tax evasion trial of cryptocurrency exchange Binance and two of its executives in a Nigerian court has been postponed until May 17. The reason for the delay was that the charges had not been legally served on the exchange yet.
As per BusinessDay, a local news agency, Binance has not received any tax evasion charges from the Federal Inland Revenue Service (FIRS). Given that Binance and its executives were charged jointly, the FIRS attorney contended that Gambaryan ought to represent Binance as the principal defendant and that Binance had been served. Chukwuka Ikuazom, the attorney for Gambaryan, protested, citing Nigerian law and claiming he couldn’t enter a plea until Binance, the main defendant, was served. The hearing was postponed until May 17 by Judge Emeka Nwite, who would then render a decision.
On February 28, Binance and its executives were taken into custody and accused of four counts of tax evasion while in Nigeria. Among them were Tigran Gambaryan, a 39-year-old American citizen who serves as the head of financial crime compliance, and Nadeem Anjarwalla, a 37-year-old British-Kenyan regional manager for Africa.
As part of an effort to stop currency speculation, the federal government outlawed cryptocurrency channels, which led to the arrest. The court ordered Binance to provide the Nigerian authorities with information about Nigerian dealers who use its platform.
The accusations centre on Binance’s alleged inability to register for tax remittance with Nigeria’s Federal Inland Revenue Service (FIRS). On Friday, Gambaryan appeared in court in Abuja, but he did not enter a plea. Anjarwalla, on the other hand, wasn’t there since he had fled the nation in March 2024 after evading arrest. In addition to the tax evasion trial, the Economic and Financial Crimes Commission (EFCC) of Nigeria has accused Binance and its management of laundering more than $35 million. On May 2, the trial is scheduled to resume.
Following Gambaryan’s imprisonment, Binance announced on Thursday at the Token2049 crypto conference in Dubai that it is closely collaborating with Nigerian authorities. The company did not appear in court and did not immediately respond to requests for comment.
Tigran Gambaryan, the executive of Binance, is still being held at the Kuje detention facility. In the meantime, the hearing for his bail plea has been rescheduled by a federal high court in Abuja, Nigeria.
Gambaryan, however, is also suing the government for allegedly infringing on his basic human rights. According to Gambaryan’s motion, his imprisonment in Nigeria and the seizure of his passport are illegal under the nation’s constitution, which upholds everyone’s right to personal liberty.