‘Tax evasion’: FIRS amends charge against Binance, Gambaryan

The Federal Inland Revenue ServiceFederal Inland Revenue Service (FIRS) has filed an amended four-count charge against Binance Holdings Limited and its executive, Tigran Gambaryan, on alleged tax evasion.

Moses Ideho, the FIRS lawyer, announced the amended charge during a court session on Friday.

Ideho told the court that the FIRS deemed it necessary to amend the charge to properly reflect Nadeem Anjarwalla’s position in the instant charge as being at large.

In March, Anjarwalla, Binance’s regional manager for Africa, escaped from the custody of the office of the national security adviser (ONSA).

“We apply to substitute our charge dated 22nd of March, 2024 with an amended charge dated 17th of May, 2024,” the lawyer said.

“We apply that the charge be read to the 1st and 2nd defendants (Binance and Gambaryan) in order to take their plea.”

However, Chukwuka Ikwuazo, counsel to Gambaryan, opposed Ideho’s application that the fresh charge be read to his clients.

Ikwuazo argued that the charge was served on his client on Friday morning, adding that he needs time to study it and prepare for the defence.

Emeka Nwite, the presiding judge, adjourned the matter until May 22 for arraignment.

Earlier, the judge, in a ruling, ordered the FIRS to serve the charge against Binance through Gambaryan, describing him as the company’s representative.

The defendants are facing four counts bordering on alleged tax evasion in the charge marked FHC/ABJ/CR/115/2024.

The offences are said to be punishable under sections 8 and 29 of the VAT Act of 1993 (as amended), section 40 of the FIRS Establishment Act of 2007 (as amended), and section 94 of the Companies Income Tax Act (as amended), respectively.