It was gathered that the binance executive did not take a plea for tax evasion charges filed against him by FIRS.
A Federal High Court in Abuja on Friday adjourned a tax evasion trial against cryptocurrency exchange Binance and two of its executives to May 17 after the matter was stalled because the exchange has not been formally served with the charges.
It was gathered that the binance executive did not take a plea for tax evasion charges filed against him by FIRS.
His lawyer, Chukwuka Ikuazom objected, arguing that since Binance and its executives were jointly charged, he could not take a plea until the platform, the first defendant in the case, had been served, according to Nigerian law.
Judge Emeka Nwite, therefore, adjourned to May 17 when he will give a ruling.
This followed a fresh application filed by the counsel for the second defendant, Mark Mordi (SAN), a statement the EFCC Head of Media and Publicity, Dele Oyewale, said on Wednesday.
The defence’s application, a further affidavit in response to the opposition of the Economic and Financial Crimes Commission (EFCC) to the initial bail application filed before the court, could not be heard because the EFCC’s counsel, Ekele Iheanacho, prayed for an adjournment to properly respond to it.
Binance and its executives Tigran Gambaryan, a U.S. citizen and head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is a regional manager for Africa, face four counts of tax evasion.
The charges include failure to register with Nigeria's Federal Inland Revenue Service (FIRS) for tax remittance purposes.
In addition to the tax evasion trial, Binance and the executives have also been charged with laundering more than $35 million by Nigeria's anti-graft agency, the Economic and Financial Crimes Commission (EFCC), in a trial that will resume on May 2.
Binance, which was not represented in court and had no immediate comment, said on Thursday that it is working closely with Nigeria authorities following the detention of Gambaryan.