Nigeria files charges against Binance as regional executive goes on the run

By bne IntelliNews March 26, 2024

Nigeria has escalated its confrontation with cryptocurrency giant Binance by filing tax evasion charges against the platform and seeking an international arrest warrant for Nadeem Anjarwalla, Binance's regional manager for Africa. 

Anjarwalla, a British-Kenyan, was previously arrested in connection with an investigation into Binance's activities in Nigeria but escaped custody last week. This development has spurred collaboration between Nigerian authorities and Interpol to locate him.

Anjarwalla and Tigran Gambaryan, Binance's head of financial crime compliance, were detained upon arriving in Nigeria in February. This came as the country banned various cryptocurrency trading websites amidst fears over currency speculation and manipulation.

Nigerian authorities' attempts to prolong their detention faced obstacles when the initial warrant expired, sparking allegations of unlawful custody. Anjarwalla's departure, allegedly through legal channels, has complicated the legal discourse around the case. 

In addition, Nigeria's Federal Inland Revenue Service (FIRS) has accused Binance of tax evasion in Abuja. The charges include not paying value-added tax (VAT) and company income tax, failing to file tax returns, and allegedly aiding customers in evading taxes through its platform. Binance's response is pending.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Ghana inks nuclear power agreement with China, advancing clean energy goals

Nuclear Power Ghana Limited and China National Nuclear Corporation Overseas Limited have sealed a deal, marking a milestone in Ghana's energy landscape, reports Asaase Radio.  The agreement ... more

South Africa needs surplus electricity from solar plants, says minister

South Africa’s Electricity Minister Kgosientsho Ramokgopa has called for discussions to assess ways of making surplus electricity from existing renewable energy facilities available to the grid. ... ... more

Zimbabwe commits to annual independent audits of its gold reserves underpinning new ZiG currency

Zimbabwe's government will ensure its gold reserves which underpin its newly-introduced currency, would be independently audited once yearly, The Herald reports. The southern African nation ... more

Follow Us On

Most Read

  1. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  2. Don't mention the "D" word - Ukraine
    6 days ago
  3. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    9 days ago
  4. The models are wrong, climate change is accelerating faster than predicted
    2 days ago
  5. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    4 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    27 days ago
  2. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  3. BRICS announce a blockchain-based payment system to create a common currency
    30 days ago
  4. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  5. Saudi Arabia to scale back plans for Neom city
    17 days ago

Reports

Dismiss