The tax evasion trial involving cryptocurrency exchange Binance and two of its executives in a Nigerian court has been rescheduled to May 17. This decision stems from Binance not being formally served with the charges, leading to a delay in legal proceedings.

According to reports from BusinessDay, the Federal Inland Revenue Service (FIRS) has yet to serve Binance with tax evasion allegations. The defense lawyer for one of the executives, Tigran Gambaryan, argued that under Nigerian law, they couldn't enter a plea until Binance, as the primary defendant, was served with the charges. Consequently, Judge Emeka Nwite adjourned the trial until May 17, when a ruling will be made on this matter.

The charges against Binance and its executives, including Gambaryan and Nadeem Anjarwalla, stem from their arrest on February 28, during a visit to Nigeria. The arrest occurred amidst the government's crackdown on cryptocurrency channels to combat currency speculation. Binance is accused of failing to register with Nigeria's Federal Inland Revenue Service for tax remittance.

While Gambaryan appeared in court on Friday, Anjarwalla was absent, having reportedly left the country in March 2024 after escaping detention. In addition to the tax evasion charges, Binance and its executives also face accusations of laundering over $35 million, as per Nigeria's anti-graft agency, the Economic and Financial Crimes Commission (EFCC).

Binance, which did not have representation in court, stated during the Token2049 crypto conference in Dubai that it is cooperating with Nigerian authorities following Gambaryan's detention.

Meanwhile, the bail application hearing for Gambaryan, who remains in custody at the Kuje correctional center, has been postponed once more by a federal high court in Abuja. Gambaryan is also pursuing legal action against the government, alleging violations of his fundamental human rights due to his detention and passport confiscation, as guaranteed by the Nigerian constitution.