The Nigerian tax authority has charged Binance with four tax-related offenses. Tensions heightened further when one of the two Binance employees was detained by the Nigerian government.
The legal battle between cryptocurrency exchange giant Binance and the Nigerian government shows no signs of easing. In the latest development, the Federal Inland Revenue Service (FIRS) of Nigeria has officially charged Binance with four serious tax offenses before the Supreme Court in Abuja.
According to the allegations, Binance is accused by FIRS of evading value-added tax (VAT), corporate income tax, failure to declare taxes, and complicity in helping customers evade taxes through their platform.
This move comes after tensions escalated when Nigeria temporarily detained two Binance staff on February 28 and rumors circulated about demanding $10 billion in compensation from the exchange, although this was later denied by the government.
Binance’s Response
In response to the confrontation, Binance suspended all services and delisted the Naira pairings from its platform. However, the Nigerian court continues to apply pressure, demanding that Binance hand over all transaction data of Nigerian users.
Of note is the shocking news from Premium Times that one of the two Binance employees detained by Nigeria, Africa Director Nadeem Anjarwalla, escaped after the Ramadan prayers on March 22.
The fate of this director remains uncertain, while Binance remains relatively silent. The legal battle continues to intensify with new developments emerging continuously
