Nigeria drops tax charges against Binance executives

Nigeria dropped charges of tax evasion against two Binance executives on Friday, focusing allegations of unfiled returns and unpaid duty on the world’s largest cryptocurrency exchange. The charges against the two men, Tigran Gambaryan, a US citizen, and Nadeem Anjarwalla, a dual UK-Kenya citizen, were dropped but the case against Binance continued, Nigeria’s tax agency said.

Binance, through its local delegate, will now be the sole defendant in the tax evasion case brought by the Federal Inland Revenue Service. Both men were detained in February after arriving in Nigeria to meet authorities after Africa’s most populous country began a clampdown on cryptocurrency trading websites it blamed for a dramatic slump in the value of its local naira currency. Pressure on Nigeria to release Gambaryan, a former US Internal Revenue Service special agent, has been growing in Washington in recent weeks after reports that he was suffering from malaria. Last week a group of US lawmakers called on President Joe Biden to secure his release as they feared for his life, and accused Nigeria of holding Gambaryan “hostage” and charged with “baseless” crimes..

The Binance executives were held in a guest house in Abuja, the Nigerian capital, adjacent to the national security adviser’s office, with their phones and passports seized. Binance said on Friday the decision showed Gambaryan 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.

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