Nigeria has withdrawn tax evasion charges against two Binance executives after the appointment of a local representative by the cryptocurrency exchange to handle all legal matters related to the allegations.
Tigran Gambaryan, head of financial crimes compliance, and Nadeem Anjarwalla, a regional manager for Africa, have both denied the tax evasion accusations.
Binance clarified that Gambaryan’s role does not involve decision-making for the company, leading to his release from the case.
Gambaryan had been in detention since February, while Anjarwalla left Nigeria in March.
Despite being cleared of tax evasion charges, both executives and Binance still face separate charges related to money laundering, which the exchange believes should also be dismissed.
Both Gambaryan and Anjarwalla deny these money laundering allegations.
Previously, Nigeria had accused Binance of exacerbating economic challenges by facilitating trading of the Nigerian naira amid currency depreciation and dollar shortages.