Failure to Present Binance Executive for Arraignment: FIRS Shifts Blame to Correctional Service
The Nigerian Federal Inland Revenue Service (FIRS) has pointed fingers at the Nigerian Correctional Service for failing to produce detained Binance executive Tigran Gambaryan at the Federal High Court in Abuja on tax evasion charges.
Reportedly, Gambaryan was a no-show in court on May 22, slated for arraignment on tax evasion accusations by the FIRS.
FIRS Points Finger at Correctional Service
In March 2024, Binance and its executives faced four counts of tax evasion each, as charged by the tax authority. Gambaryan was then moved to Abuja’s Kuje Correctional Centre in April after pleading not guilty to money laundering charges filed by the Economic and Financial Crime Commission and seeking bail. The Binance exec was denied bail and remains in custody.
During court proceedings on Wednesday, prosecution counsel Moses Idehu expressed confusion about Gambaryan’s absence and mentioned several instances of unsuccessful attempts to reach the correctional center. He also requested a brief delay in the case to address the matter later that day.
Meanwhile, Gambaryan’s lawyer, Chukwuka Ikwuazo, asked the judge to tell FIRS to take another detained Binance exec Nadeem Anjarwalla’s name off the new charges because he’s been declared “at large.” The FIRS lawyer also agreed to remove Anjarwalla’s name from the charges.
Both Gambaryan and Anjarwalla were arrested during a public inquiry and were charged with involvement in Nigeria’s economic problems and funding terrorism. The duo were transferred to a secure facility after their passports were seized.
Dangerous Precedent
While advocating for the release of Gambaryan, who was head of Binance’s Financial Crime Compliance team, the CEO of the cryptocurrency exchange, Richard Teng said that the move by the Nigerian authorities has set a “dangerous” new precedent for all companies across the world.
Teng had also added that Gambaryan’s visit to Nigeria was not for decision-making or negotiations but solely to provide expertise in financial crime, participating in policy discussions, and capacity building. Despite repeated assurances from Nigerian authorities for safe passage, the arrests were still made.
Subsequently, Gambaryan was held at Nigeria’s Kuje prison, which gained notoriety after an Islamic State attack in July 2022 as part of a jailbreak. It has even housed several prominent inmates, including the former central bank governor, Godwin Emefiele.
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