The Federal Inland Revenue Service (FIRS) in Nigeria has dropped all tax evasion charges against Tigran Gambaryan and Nadeem Anjarwalla, two senior executives of Binance, the world's largest cryptocurrency exchange. This sudden decision comes after FIRS filed charges against Binance and its executives in March, accusing them of tax evasion and non-compliance with Nigerian tax laws.

The charges were filed after Binance's executives were detained in Nigeria following a meeting with government officials to discuss the country's ban on cryptocurrency channels. The detention and subsequent charges sparked a diplomatic row between the Nigerian government and Binance, with the company's CEO, Changpeng Zhao, calling for the release of the executives and warning of a "dangerous new precedent".

However, in a surprising move, FIRS dropped the charges against Gambaryan and Anjarwalla, citing that they were not decision-makers at Binance and therefore should not be held responsible for the company's tax obligations. The court's decision has been welcomed by Binance, which has maintained that its executives were wrongly detained and charged.

Gambaryan, who has been in detention for over 100 days, has been diagnosed with malaria and pneumonia, and his family has expressed concern over his deteriorating health.The court's decision has raised hopes that he will be released soon and allowed to return home to his family.

The case has highlighted the challenges faced by cryptocurrency companies operating in Nigeria, where the government has been cracking down on cryptocurrency trading and has accused several exchanges of tax evasion and money laundering. The incident has also sparked a debate over the use of cryptocurrency in Nigeria, with some calling for greater regulation and others arguing for greater freedom for cryptocurrency companies to operate in the country.

In a statement, Binance welcomed the court's decision and expressed relief that the executives had been cleared of all charges. The company also commended the FIRS for their professionalism and diligence throughout the process, and expressed hope that the Economic and Financial Crimes Commission (EFCC) would follow suit and drop the money laundering charges against the executives.

The case has also drawn attention to the need for greater clarity and regulation in the cryptocurrency sector in Nigeria, where the government has been struggling to keep pace with the rapid growth of cryptocurrency trading. The incident has highlighted the need for greater cooperation between the government and cryptocurrency companies to ensure that the sector is regulated in a way that promotes innovation and growth while also protecting the interests of the government and the public.

In conclusion, the sudden decision by the FIRS to drop the tax evasion charges against Binance executives has come as a surprise to many, and has raised hopes that the executives will be released soon and allowed to return home to their families. The case has highlighted the challenges faced by cryptocurrency companies operating in Nigeria, and has sparked a debate over the use of cryptocurrency in the country. It remains to be seen how the government will respond to the court's decision, and whether it will lead to greater clarity and regulation in the cryptocurrency sector in Nigeria.