The Federal High Court in Abuja has arraigned an official of Binance Holdings Limited, Tigran Gambaryan, over allegations of tax evasion. The Economic and Financial Crimes Commission (EFCC) produced Gambaryan in court alongside Nadeem Anjarwalla, who is currently on the run. The FIRS has accused Binance of failing to register with the Federal Inland Revenue Service and not paying relevant taxes.
Additionally, the company allegedly failed to issue invoices to subscribers on its trading platform for the purpose of determining and paying value-added taxes. Gambaryan, who is the second defendant in the case, was taken to court by heavily armed EFCC operatives, and the proceedings were already underway at the time of filing this report.