Nigeria Clears Binance Executives of Tax Allegations: Next Steps?

Nigeria

The Nigerian tax agency has dropped tax charges against two Binance executives, Gambaryan and Anjarwalla, following international pressure. However, charges against Binance itself remain.

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The executives still face money laundering charges, with a hearing scheduled for June 19th. However, the tax charges are now directed only at Binance itself, leaving questions about what the cryptocurrency giant will do next.


Nigerian Tax Agency Drops Charges Against Binance Executives

The Nigerian Federal Inland Revenue Service (FIRS) has dismissed tax charges against two top Binance executives, Tigran Gambaryan and Nadeem Anjarwalla. This decision comes after significant international pressure, including a letter from U.S. federal prosecutors urging the U.S. Department of Justice to influence the Nigerian government.

Initially, FIRS had targeted both Gambaryan and Anjarwalla with tax charges. However, the agency has now decided to redirect these charges solely at Binance, focusing on its local representative.

Observers believe that a letter to the U.S. Department of Justice, signed by over 100 former senior executives, played a crucial role in this outcome. The letter raised concerns about the conditions in Kuje Prison, where Gambaryan was detained, known for housing some of Nigeria’s most dangerous criminals.

Despite this development, Gambaryan and Anjarwalla are not entirely free from legal troubles. They still face charges in a separate money laundering case. The next hearing for this case is scheduled for June 19, where an application for an order for the enforcement of fundamental rights will be heard.

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The trial is set to resume on June 20, with Gambaryan remaining detained at Kuje Prison.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

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