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Binance executive escapes Nigerian custody as authorities file new tax charges

·1 min

Binance, a global cryptocurrency exchange, is facing charges of tax evasion in Nigeria. The Federal Inland Revenue Service (FIRS) has filed four charges against the company, including non-payment of Value-Added Tax (VAT) and company income tax. The charges also accuse Binance of failure to submit tax returns and aiding customers in evading taxes through its platform. Two senior executives, Tigran Gambaryan and Nadeem Anjarwalla, were charged and remanded in custody by Nigerian authorities. Anjarwalla recently escaped from detention. The Nigerian government has expressed concerns about money laundering and alleged collusion on currency prices through Binance’s peer-to-peer marketplace.