FIRS Files Tax Evasion Charges against Binance

Federal government of Nigeria has initiated legal proceedings against Binance, a major cryptocurrency exchange platform, for alleged tax evasion.

The charges, formally filed at the Federal High Court in Abuja, were announced on Monday by the Federal Inland Revenue Service (FIRS).

In a lawsuit designated as suit number FHC/ABJ/CR/115/2024, Binance is accused of four counts of tax evasion.

Joining the crypto company as second and third defendants are Tigran Gambaryan and Nadeem Anjarwalla, both senior executives of Binance currently in custody with the Economic and Financial Crimes Commission (EFCC).

The charges stemmed from an investigation of the company’s Nigerian office for alleged attempts to manipulate Nigeria’s currency.

The government also said Binance had failed to register for tax purposes with authorities.

Binance in the past has denied any wrongdoing in Nigeria. The company did not respond to VOA’s request for comment.

Nigerian authorities on February 26 detained two of the company’s executives — Tigran Gambaryan, a U.S. citizen, and Nadeem Anjawalla, a British Kenyan.

Meanwhile, on Monday, the office of the national security adviser said Anjawalla had escaped detention.

The security adviser said authorities were working with international police to obtain a warrant for his arrest.

Binance said it was aware one of its officials was no longer in custody.