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Binance and Nigeria Controversy
Nigeria Alleges Four Tax Evasion Behaviors
Binance Executive Nadeem Anjarwalla Reportedly Left the Country
Binance and Nigeria Controversy
From the initial allegations of rate manipulation to subsequent tax issues, the problems between Binance and the Nigerian government seem to be escalating. The timeline of events is as follows:
March 1st:
Nigeria accuses Binance of manipulating the Nigerian Naira (NGN) exchange rate and demands billions of dollars in compensation.
March 5th:
Binance announces its withdrawal from Nigerian fiat services.
March 12th:
Reports emerge that a Binance executive has been detained by Nigerian authorities for two weeks.
March 14th:
Nigerian authorities change their claims against Binance to include tax evasion.
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Binance executive detained for a third week, Nigeria demands user information and resolution of tax payment issues
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Nigeria Alleges Four Tax Evasion Behaviors
According to CoinDesk, the Federal Inland Revenue Service (FIRS) of Nigeria has filed charges against Binance in the High Court, accusing the company of four tax evasion behaviors:
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Non-filing of tax returns
Non-payment of Value Added Tax (VAT)
Non-payment of corporate income tax
Conspiring to assist users in tax evasion
Binance Executive Nadeem Anjarwalla Reportedly Left the Country
According to Nigerian online media outlet Premium Times, an insider claims that Nadeem Anjarwalla, one of the detained Binance executives, has escaped the country by boarding a plane.
The source states that Anjarwalla managed to escape from a hotel under the control of the Department of State Services on the 22nd and has since flown out of the capital, Abuja.
It is said that Anjarwalla initially entered the country with a British passport, and it is unclear how he managed to board an international flight. Authorities are investigating the destination of the flight in order to re-detain Anjarwalla.
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