Binance, a cryptocurrency trading firm, is collaborating with the Nigerian government to help release Tigran Gambaryan, who heads the financial crime compliance unit at the crypto exchange.
Gambaryan is currently in Kuje Correctional Centre awaiting a decision on his bail application due to alleged involvement in money laundering, as charged by the Economic and Financial Crimes Commission (EFCC).
The Federal Government, through the Federal Inland Revenue Service (FIRS), has also brought a five-count charge against Binance, two executives (including Gambaryan), and Nadeem Anjarwalla who is currently on the run.
In the case labeled FHC/ABJ/CR/115/2024, the Federal Government accuses Binance of enabling customer tax evasion, such as not paying Value Added Tax (VAT), failing to file tax returns, evading Company Income Tax (CIT), and assisting customers in avoiding taxes through its platform.
During the Token2049 Crypto Conference in Dubai, United Arab Emirates (UAE), Binance CEO Richard Teng mentioned potential cooperation between Binance and the Nigerian government to address the situation.
“What I can say is we are working very closely with the Nigerian authorities to try to resolve the matter. This was a one-off. It’s never happened to us before.”
