A Nigerian court has scheduled a trial against cryptocurrency exchange Binance on tax evasion accusations for October 11, according to the judge hearing the case on Friday.

Tigran Gambaryan and Nadeem Anjarwalla, Binance executives, are facing separate trials on tax evasion and money laundering charges. Teng highlighted that Binance is contesting the charges.

Gambaryan, a US citizen and Binance’s head of financial crime compliance, was detained in Nigeria for more than two months, and Anjarwalla, a British-Kenyan regional manager for Africa, fled the country in March.

Teng claimed that Binance executives began conversations with Nigerian officials in January, followed by another meeting on February 26. Throughout the meeting,

Binance-related issues have been identified by Nigerian officials as national security concerns. They demanded the removal of the naira currency from Binance’s site, as well as complete information on all Nigerian users.

Teng vehemently opposed Gambaryan and Anjarwalla’s incarceration following cooperation conversations with Nigerian authorities. He warned that this action creates a hazardous precedent for businesses worldwide.

Additional sources: AP