Latest developments in Nigeria, the world’s largest cryptocurrency stock exchange Binance It showed that he was accused of tax evasion by local authorities.
Nigeria Blames Binance, Detained Executives Accused of Tax Evasion
The situation escalated as the Nigerian government intensified its conflict with the exchange, leading to the detention of two Binance executives and sparking controversy after reports emerged that one of them had escaped custody.
According to Reuters, Binance Executive Board Member Nadeem Anjarwalla escaped from custody.
According to reports from local media outlets today, the Nigerian Federal Internal Revenue Service (FIRS) has filed a criminal complaint against Binance in the Federal High Court in Abuja.
The charges accuse him of multiple counts of tax evasion, including failing to pay Value Added Tax (VAT), Company Income Tax, failing to file tax returns, and allegedly helping customers evade taxes through his platform.
The announcement of these accusations follows weeks of increased scrutiny and criticism of Binance by the Nigerian government.
Among the allegations raised by authorities are that the platform facilitated the processing of billions of dollars of suspected criminal funds and manipulated the exchange rate of the local currency, the naira.
In the midst of this legal battle, an additional layer of controversy has emerged. Premium Times newspaper reported over the weekend that Nadeem Anjarwalla, one of two Binance executives detained by the government, escaped from custody.
This revelation raised concerns and questions about the circumstances of the escape and its impact on ongoing legal proceedings.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!