The Federal High Court in Abuja has postponed the tax evasion case against cryptocurrency exchange, Binance, and two of its executives until next month, citing procedural delays.
The adjournment follows a stalled trial on Wednesday, when authorities failed to present Tigran Gambaryan, Binance’s head of financial crime compliance and a U.S. citizen, in court. No explanation was provided for Mr Gambaryan’s absence.
Last Friday, an Abuja court had ruled that Mr Gambaryan could stand trial on behalf of Binance in the tax evasion case.
The case against Binance is part of Nigeria’s broader crackdown on cryptocurrency operations.
Dangerous Precedent
Two weeks ago, Binance CEO Richard Teng criticized the Nigerian government for setting a “dangerous precedent” after its executives were detained during an official visit.
The charges against Binance and its executives, including Mr Gambaryan and Nadeem Anjarwalla, a British-Kenyan who is Binance’s regional manager for Africa, cover four counts of tax evasion. These include failing to register with Nigeria’s Federal Inland Revenue Service for tax purposes.
Mr Anjarwalla escaped custody in March but remains listed in the case, without being officially marked as “at large.”
Moses Ideho, Binance’s lawyer, said the Nigerian prison service was responsible for producing Mr Gambaryan in court but did not provide a reason for his absence.
Presiding judge, Emeka Nwite, rescheduled the possible arraignment of Binance and Mr Gambaryan to June 14.
In addition to the tax evasion charges, Binance and the executives face allegations of money laundering, brought by Nigeria’s Economic and Financial Crimes Commission (EFCC). The money laundering trial is set to be heard on Thursday.
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