Nigerian court postpones detained Binance official’s hearing

A Binance representative being held in Nigeria on charges of tax evasion will have their court hearing rescheduled to April 19th.

According to Bloomberg, this decision came during the executive’s initial court appearance.

Tigran Gambaryan, heading Binance‘s anti-financial-crime unit, allegedly overlooked paying taxes like VAT and corporate income tax.

Binance kindly asks that Tigran Gambaryan, who holds no authority within the organization, be excluded from any responsibility during the ongoing negotiations between Binance and Nigerian government representatives. #FreeTigranFromResponsibility

Learn more here 👇

— Binance (@binance) April 3, 2024

Gambaryan is additionally accused of assisting Binance’s clients in evading tax liabilities. He will be overseen by Nigeria’s Economic and Financial Crimes Commission. The Binance hearing has been postponed to April 8 by the court.

A top executive from Binance named Nadeem Anjarwalla, who was arrested alongside Gambaryan last month, recently departed Nigeria. They had traveled to Nigeria in late February at the behest of Nigerian authorities for talks about cryptocurrency transactions. The government had been taking steps to regulate crypto exchanges in order to control currency market speculation.

In recent times, Nigeria, which is home to the most inhabitants among African nations, has experienced a significant rise in the use of cryptocurrencies due to a substantial drop in the value of its local currency over the past year. Consequently, this price hike resulted in regulatory limitations being imposed by the government on cryptocurrency exchanges.

Read More

2024-04-04 16:49