The Federal Inland Revenue Service, on Friday, says it is dropping the tax charges against Tigran Gambaryan, Binance’s head of financial crime compliance.

Confirming the development, Dare Adekanmbi, the agency’s spokesperson, said the federal government “is dropping charges against the two individuals sued along with the cryptocurrency firm, Binance.

“Please note that the charges are being dropped against the second and the third defendants in the matter,” he added.

Speaking in a statement on Friday, Binance said the development illustrates that Gambaryan is not a decision-maker at the cryptocurrency firm.

“We are relieved that the Federal Inland Revenue Service (FIRS) has served and filed amended charges today, resulting in tax charges against Tigran Gambaryan being dropped,” the statement reads.

“Further illustrating that Tigran is not a decision-maker at Binance and does not need to be held in order for Binance to resolve issues with the Nigerian government.

“We await the court’s ruling on this, discharging Tigran from this matter completely.”

Binance also commended the FIRS for their diligence and professionalism throughout this process.

The company said the situation unequivocally demonstrates its commitment to resolving the issue with the government transparently and cooperatively.

Gambaryan and Nadeem Anjarwalla, Binance’s regional manager for Africa; were detained by the Nigerian authorities on February 28.

Although Anjarwalla escaped from the custody of the office of the national security adviser (ONSA), both executives, alongside Binance, were charged by the federal government for tax evasion and money laundering.

On March 25, FIRS filed a criminal charge against Binance for “tax evasion”.

According to the service, the move was to uphold fiscal responsibility and safeguard the economic integrity of the country.

The lawsuit, designated as suit number FHC/ABJ/CR/115/2024, was said to “implicate Binance with a four-count tax evasion accusation”.

On May 17, the FIRS filed an amended four-count charge against Binance Holdings Limited and its executive, Gambaryan, on alleged tax evasion.

The matter drew the attention of lawmakers in the United States who accused the Nigerian government of taking Gambaryan, “hostage”.