Nigeria Charges Binance, Detained Executives With Tax Evasion: Reports
Summary
Binance, the world's largest crypto exchange, has been charged with tax evasion by Nigerian authorities. The Federal Inland Revenue Service (FIRS) filed the charges at the Federal High Court in Abuja, accusing Binance of four counts of tax evasion, including non-payment of Value-Added Tax (VAT), Company Income Tax, failure to file tax returns, and aiding customers in tax evasion. The Nigerian government has been scrutinizing Binance for weeks, alleging that the platform processed billions of dollars in suspected criminal funds and set an exchange rate for the local currency. Two Binance executives were detained in connection with these charges, one of whom, Nadeem Anjarwalla, has reportedly escaped.
