Nigeria: Binance Nigeria Representative Arraigned on Amended Tax Evasion Charges

On Friday, the Federal Inland Revenue Service (FIRS) re-arraigned Binance Holdings Limited on a four-count charge related to allegations of tax evasion. The proceedings took place before Justice Emeka Nwite at the Federal High Court in Abuja.

Ayodele Omotilewa, Binance’s Nigerian representative, appeared in court to enter a plea on behalf of the company. He pleaded not guilty to all four counts of the amended charges.

This re-arraignment follows the previous court decision to discharge Tigran Gambaryan and Nadeem Anjarwalla from the charges. On June 14, Justice Nwite dismissed Gambaryan’s and Anjarwalla’s names from the case after FIRS counsel, Moses Ideho, filed a fresh amended charge listing Binance as the sole defendant.

Justice Nwite also directed that the parties present arguments on whether Omotilewa, the newly appointed representative and a Nigerian lawyer, should be formally docked to plead on behalf of Binance.

Ideho argued that Omotilewa, as the new representative for Binance in Nigeria, should take the dock to enter a plea for the company in the amended case.

In response, Tonye Krukrubo, SAN, representing Binance, contested this request, asserting that Omotilewa’s role was limited to specific tasks and that he should not be required to enter the dock but rather observe the proceedings.

The amended charge, dated June 13 and filed on June 14, lists Binance Holdings Limited as the sole defendant in the case.

At the resumed hearing on Friday, Ideho informed the court that the adjournment was to allow for arguments on whether Omotilewa should be formally docked as the company’s representative. Following discussions, Krukrubo withdrew the objection to Omotilewa’s appearance in the dock, acknowledging that Omotilewa’s role was indeed to represent Binance in this matter.

The four counts of the charge were read to Omotilewa, who pleaded not guilty to all allegations. FIRS counsel then requested a trial date to present evidence and prove the charges against Binance.

Summary of Proceedings:

• Charges: Binance Holdings Limited faces a four-count charge of tax evasion.
• Defendant: Ayodele Omotilewa, Binance’s Nigerian representative, pleaded not guilty to the charges.
• Previous Ruling: Justice Nwite had earlier discharged Tigran Gambaryan and Nadeem Anjarwalla from the case.
• Court Decision: Omotilewa will represent Binance in court and has been docked to enter a plea.
• Next Steps: FIRS requested a trial date to present their case against Binance.

The case will proceed with a focus on proving the charges against Binance as the legal process continues.

Key Details of the Case:

• Amended Charges: Binance Holdings Limited is now the sole defendant in the tax evasion case.
• Legal Representation: Ayodele Omotilewa has been appointed as the representative for Binance in Nigeria.
• Court Ruling: Omotilewa is required to enter the dock to plead on behalf of Binance.
• Trial Schedule: A date for trial will be set to allow FIRS to present evidence and argue the charges.

This development marks a significant step in the legal proceedings against Binance in Nigeria as the case moves forward.