Nigeria has dropped tax evasion charges against two Binance executives after the crypto exchange appointed a local representative to handle court processes related to the allegations.
Binance and its executives, Tigran Gambaryan, head of financial crimes compliance, and Nadeem Anjarwalla, regional manager for Africa, both denied the tax evasion charges.
Binance stated the court’s decision indicated Gambaryan was not a decision-maker at the firm, allowing the company to address issues with the Nigerian government without his involvement.
“We await the court’s ruling on this, discharging Tigran from this matter completely,” a Binance spokesperson said.
Gambaryan has been in custody since February, while Anjarwalla left Nigeria in March.
Despite the removal of the two executives from the tax evasion case, they, along with Binance, still face separate money laundering charges, which Binance argues should also be dropped. Gambaryan and Anjarwalla deny these allegations as well.
Nigeria has criticized Binance for its role in the country’s currency issues, as cryptocurrency platforms have been used for trading the Nigerian naira amid chronic dollar shortages, leading to the naira’s record low.
