In Nigeria, authorities have filed charges for tax evasion against two executives of Binance, a cryptocurrency exchange platform. They are accused of having encouraged speculation on the local currency, the naira. They were arrested on February 26 in Abuja.
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THE Nigeria filed a complaint for tax evasion against two Binance executives, arrested in Abuja a month ago. Binance, the world’s leading cryptocurrency exchange, was accused of encouraging speculation in the local currency, the naira, and of having ” sabotaged » the Nigerian economy. The detention of the two employees was extended several times. But this is the first time that the Nigerian justice system has announced the charges against them.
The two Binance executives landed in Nigeria on February 26, for a meeting with authorities in Abuja. But their passports were quickly confiscated and they were placed in pre-trial detention in their hotel.
Justice first demanded that Binance disclose all transactions carried out by Nigerians on its cryptocurrency exchange site.
Four charges were ultimately brought against the two men, who allegedly helped their company and its clients evade income tax and facilitated tax-free transactions in Nigeria.
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Authorities claim that $26 billion was exchanged on the platform by Nigerians, but this unsubstantiated figure is disputed by cryptocurrency specialists.
This financial saga is now coupled with a diplomatic affair since, according to the Nigerian press, one of the two Binance employees managed to leave the country this weekend.
Nadeem Anjarwalla, Africa director of Binance, who has dual Kenyan and British nationality, reportedly managed to escape during a visit to the mosque. He then allegedly managed to board a plane and leave Nigeria.
The American Tigran Gambaryan, an American citizen responsible for monitoring Binance’s financial crime compliance, is reportedly still detained in Abuja.
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