FIRS blames the Correctional Service

The Nigerian Federal Inland Revenue Service (FIRS) has pointed the finger at the Nigerian Correctional Service for failing to produce arrested Binance executive Tigran Gambaryan at the Federal High Court in Abuja on tax evasion charges.

Gambaryan reportedly failed to appear in court on May 22, scheduled for tax evasion charges by the FIRS.

FIRS points the finger at the Correctional Service

In March 2024, Binance and its executives faced four counts of tax evasion each, as charged by the tax authority. Gambaryan was transferred to the Kuje Correctional Center in Abuja in April after pleading not guilty to money laundering charges brought by the Economic and Financial Crimes Commission and applying for bail. The Binance executive was denied bail and remains in custody.

During court proceedings on Wednesday, prosecution lawyer Moses Idehu expressed confusion over Gambaryan’s absence and cited several instances of unsuccessful attempts to reach the correctional facility. He also requested a short adjournment in the case to deal with the matter later that day.

Meanwhile, Gambaryan’s lawyer, Chukwuka Ikwuazo, asked the judge to tell FIRS to remove the name of another arrested Binance executive, Nadeem Anjarwalla, from the new charges because he has been declared “at large”. FIRS counsel also agreed to drop Anjarwalla’s name from the charges.

Both Gambaryan and Anjarwalla were arrested during a public inquiry and accused of participating in Nigeria’s economic problems and financing terrorism. The duo was taken to a secure facility after their passports were confiscated.

Dangerous precedent

While defending the release of Gambaryan, who was the head of Binance’s financial crimes compliance team, the cryptocurrency exchange’s CEO Richard Teng said the move by Nigerian authorities has set a new “dangerous” precedent for all companies in 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 crimes, engage in policy discussions and build capacity. Despite repeated assurances from the Nigerian authorities for safe passage, the arrests were still made.

Gambaryan was subsequently detained in Nigeria’s Kuje prison, which gained notoriety after an Islamic State attack in July 2022 as part of a prison break. It has even housed several prominent inmates including former central bank governor Godwin Emefiele.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!