Nuhu Ribadu, the National Security Adviser, has confirmed that Nadeem Anjarwalla, a key figure in the ongoing investigation into Binance’s activities in Nigeria, has fled from custody. Ribadu revealed that Anjarwalla managed to leave Nigeria using a smuggled passport. Security agencies are collaborating with Interpol to issue an international arrest warrant for Anjarwalla, who escaped lawful custody on Friday, March 22, 2024. He fled from an Abuja guest house where he and a colleague were being detained, reportedly leaving during a period when guards were accompanying him to a nearby mosque for prayers as part of the ongoing Ramadan fast.
Earlier this year, in February, two executives from Binance were detained upon arriving in Nigeria to negotiate with authorities amid a crackdown on the crypto platform.
FG Files Tax Evasion Charges Against Binance
The federal government has initiated criminal proceedings against Binance, as revealed in a statement by Dare Adekanmbi, the Special Adviser on Media, to the Executive Chairman of the Federal Inland Revenue Service (FIRS). The charges against Binance include four counts of tax evasion. The lawsuit, numbered FHC/ABJ/CR/115/2024, also names Tigran Gambaryan and Nadeem Anjarwalla, both senior executives of the exchange.
The charges against Binance include allegations of failure to pay Value Added Tax (VAT) and Company Income Tax (CIT), failure to file tax returns, and conspiracy to aid customers in evading taxes through its platform. The federal government also alleges that Binance failed to register with FIRS for tax purposes and violated existing tax regulations in the country.
Of particular concern are allegations that Binance neglected to collect and remit various categories of taxes to the federation, as mandated by Section 40 of the FIRS Establishment Act 2007. This section stipulates that any company engaging in business transactions exceeding N25 million annually is deemed to be operating within Nigeria.
