FIRS Faults Nigeria for Not Bringing Binance Exec to Court

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As an analyst with a background in tax law and experience working with international corporations, I find the ongoing legal proceedings between the Federal Inland Revenue Service (FIRS) and Binance deeply concerning. The latest development in this case, where Binance Executive Tigran Gambaryan failed to appear in court due to his absence from prison, highlights the complexity of cross-agency coordination in such matters.

The Federal Inland Revenue Service (FIRS) has accused the Nigeria Correctional Service of not bringing Binance Executive Tigran Gambaryan to court for tax evasion hearings on Wednesday. Gambaryan, who is currently detained in prison following his previous court session, was missing, leading to a delay in the judicial process.

I, FIRS counsel Moses Idehu, argued before Justice Emeka Nwite that it was the duty of the prison service to transport the accused individuals from custody for their court appearance. The Nigerian administration has implicated our cryptocurrency exchange in manipulating foreign exchange rates and consequently apprehended two of its top executives.

Nadeem Anjarwalla, the African region’s manager, managed to elude his captors beforehand and was subsequently found in Kenya. In contrast, Gambaryan remained imprisoned during this time.

Previously, FIRS accused Binance of neglecting to gather and forward taxes, such as Value-Added Tax (VAT) and corporate income tax, to the appropriate authorities. Idehu sought a postponement to ascertain why the correctional services had not presented Gambaryan for the proceedings.

Gambaryan’s lawyer, Chukwuka Ikwuazo, requested the judge to exclude Nadeem Anjarwalla from the revised accusations as he is currently absent. The FIRS legal representative concurred, and the hearing was postponed until June 14 for the formal charging session.

Ivy Shirinda, a representative from Binance, voiced her displeasure over Gambaryan’s prolonged detainment. She deemed the accusations against him baseless and requested his freedom during ongoing negotiations with Nigerian authorities.

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2024-05-23 15:48