Close Menu
Finance Pro
  • Home
  • Art Gallery
  • Art Investment
  • Art Stocks
  • Cryptocurrency
  • Finance
  • Investing in Art
  • Investments
Facebook X (Twitter) Instagram
Trending
  • The art of Armani | Daily Mail Online
  • Lloyds Bank vows to fight car finance payouts – The Telegraph
  • Why Digital Art Isn’t Replacing the Gallery
  • Lloyds profits plunge 36% as it feels impact of UK car finance scandal – The Guardian
  • “State Russian Support”: EU Sanctions the Cryptocurrency A7A5
  • North Korea stole $2.8 billion in cryptocurrency in 2024 and 2025, report says
  • Green fields, hidden hazards: how to safeguard agricultural investments
  • African Development Bank Group receives $14 million in first funding allocation under Global Agriculture and Food Security Program’s new private sector financing window – African Development Bank Group
  • Privacy Policy
  • Terms and Conditions
  • Get In Touch
Finance ProFinance Pro
  • Home
  • Art Gallery
  • Art Investment
  • Art Stocks
  • Cryptocurrency
  • Finance
  • Investing in Art
  • Investments
Finance Pro
Home»Cryptocurrency»Binance Charged With Tax Evasion in Nigeria as Exec Escapes
Cryptocurrency

Binance Charged With Tax Evasion in Nigeria as Exec Escapes

March 25, 20242 Mins Read


Nigeria has reportedly charged Binance and two of the cryptocurrency exchange’s executives with tax evasion.

The charges come with a dramatic wrinkle, as one of those executives, who had been detained by the government last month, has apparently fled the country, Bloomberg News reported Monday (March 25).

According to the report, Nigeria’s Federal Inland Revenue Service (FIRS) has accused Binance of non-payment of value-added-tax and company income tax, failure to file tax returns and complicity in aiding customers to evade taxes via its platform.

Also named in the charges were Tigran Gambaryan, Binance’s head of crime compliance, and Nadeem Anjarwalla, the company’s regional manager for Africa, both in custody since they arrived in Nigeria in February.

However, Anjarwalla — a citizen of both the U.K. and Kenya — managed to flee custody last week, the report said. The escape happened after guards escorted him to a mosque for prayer. He had been scheduled to appear in court April 4, per Bloomberg.

PYMNTS has contacted both Binance and FIRS for comment but has not yet gotten a reply.

The executives were picked up by Nigerian national security officers after arriving in the country in late February after authorities said the company is operating in the African nation illegally.

Nigerian Central Bank Governor Olayemi Cardoso had cited Binance during a press conference in January after announcing a record interest rate hike to help boost the country’s currency.

Criticizing “illicit flows,” Cardoso said $26 billion has passed via Binance in Nigeria “from sources and users who we cannot adequately identify.”

Other officials have said that crypto firms have been disrupting Nigeria’s exchange rate and taking on the role of the country’s central bank. It has led Nigeria to ask its telecom companies to block platforms like Binance and Coinbase.

Binance’s troubles in Nigeria are the latest in a string of legal and regulatory difficulties for the world’s largest crypto exchange, which in February finalized a $4.3 billion deal with the U.S. government resolving a Department of Justice criminal investigation into the company.

The company is also dealing with regulatory issues in India, where the government asked both Apple and Google to remove the Bianance app from their stores after the Financial Intelligence Unit India said it was blocking the URLs of nine offshore virtual digital asset service providers, alleging these companies were not adhering to India’s Prevention of Money Laundering Act.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

“State Russian Support”: EU Sanctions the Cryptocurrency A7A5

October 23, 2025 Cryptocurrency

North Korea stole $2.8 billion in cryptocurrency in 2024 and 2025, report says

October 23, 2025 Cryptocurrency

Mutuum Finance- Sponsored Content | ThePrint

October 23, 2025 Cryptocurrency

Building Your Own Cryptocurrency: A Beginner’s Guide To Creating A Crypto Coin From Scratch

October 22, 2025 Cryptocurrency

FBI data shows cryptocurrency ATM scams exploding in United States

October 22, 2025 Cryptocurrency

North Korea has stolen billions in cryptocurrency and tech firm salaries, report says

October 22, 2025 Cryptocurrency
Add A Comment
Leave A Reply Cancel Reply

Don't Miss

The art of Armani | Daily Mail Online

October 23, 2025 Art Gallery 3 Mins Read

by LUKE LEITCH, Evening Standard For nearly three decades Giorgio Armani’s sophisticated clothes have been…

Lloyds Bank vows to fight car finance payouts – The Telegraph

October 23, 2025

Why Digital Art Isn’t Replacing the Gallery

October 23, 2025

Lloyds profits plunge 36% as it feels impact of UK car finance scandal – The Guardian

October 23, 2025
Our Picks

The art of Armani | Daily Mail Online

October 23, 2025

Lloyds Bank vows to fight car finance payouts – The Telegraph

October 23, 2025

Why Digital Art Isn’t Replacing the Gallery

October 23, 2025

Lloyds profits plunge 36% as it feels impact of UK car finance scandal – The Guardian

October 23, 2025
Our Picks

Building Your Own Cryptocurrency: A Beginner’s Guide To Creating A Crypto Coin From Scratch

October 22, 2025

Brighton Museum gallery reopens with Pride, BLM and Dali exhibits

October 22, 2025

FBI data shows cryptocurrency ATM scams exploding in United States

October 22, 2025
Latest updates

The art of Armani | Daily Mail Online

October 23, 2025

Lloyds Bank vows to fight car finance payouts – The Telegraph

October 23, 2025

Why Digital Art Isn’t Replacing the Gallery

October 23, 2025
Weekly Updates

Microsoft to consider bitcoin investment in December, despite board opposition

October 26, 2024

‘Slowing the process down’: how a bohemian Somerset art gallery is forging its own path – The Art Newspaper

July 30, 2025

Bitget Strikes Deals with Turkish Sports Icons for Campaign Expansion

June 11, 2024
  • Privacy Policy
  • Terms and Conditions
  • Get In Touch
© 2025 Finance Pro

Type above and press Enter to search. Press Esc to cancel.