Escalation of Tensions Between Nigeria and Binance

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.

Azcnews Breaking

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.

Related: BingX Launches P2P Merchant Recruitment Program in Nigeria

Binance’s Response

Binance (1)

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.

5.0/5

(108 votes)
  1. Avatar of Victor
    Victor

    Good job Nigeria

    • Avatar of
      Anonymous

      You are stupid

      • Avatar of
        Anonymous

        Your papa

      • Avatar of
        Anonymous

        Very stupid oo

    • Avatar of
      Anonymous

      Good job for what. Is Binance Nigeria problem. Why should they detain Binance staffs

      • Avatar of
        Anonymous

        Which one is good Job…. Binance is not the problem of Nigeria… The government better withdraw this case and try to fixed things not to waste things the more

        • Avatar of
          Anonymous

          What do you about TAX?

        • Avatar of Abubakar
          Abubakar

          Nigeria is not the only country where Binance is used and cannot be the only country where Binance is there problem. The government started with alleging that Binance influenced it’s fx and now it is tax matter. Confused people in a confused nation.

        • Avatar of Survival
          Survival

          Sick Nation called Nigeria. The so called government didn’t want the development of his citizens, they cannot afford any help to the people instead fighting the only opportunity bring to the people, shame on the so called country.

      • Avatar of
        Anonymous

        What do you know about taxes and legal framework of multinational companies?

      • Avatar of
        Anonymous

        ASK THEM OH

      • Avatar of Duduyemi
        Duduyemi

        When will Idiot like you understand how economy works? rather than keeping quiet if your head is empty, you came here and oozing out nonsense from dirty frothy mouth

    • Avatar of
      Anonymous

      You are not okay

    • Avatar of
      Anonymous

      If ogun no kill you in night e kill for morning werey

    • Avatar of
      Anonymous

      You are a mad man …. Ignorance of all time

    • Avatar of Crypto G
      Crypto G

      If I get gun. I swear I will kill you and that your useless cow brain
      Idiot….

    • Avatar of Anonymous
      Anonymous

      Guyman, I’m a lady who makes ends meet via binance platform and I know its essence even if you don’t. Have you asked yourself what the government will do with this tax if they ever received it, just answer that for your mind. It’s certain you don’t mean what you’re saying, I’m sure you just want to be the first to comment and no harms intended right? Next time try to reason very carefully before you begin to spew total nonsense about what you know nothing about. Okay? Stop being so dumb! Good job wetin?? 🙄🙄🙄Mtchew!

    • Avatar of
      Anonymous

      Thunder fire you idiot bingo like you, what is good job ??? Is binance the predicament of corruptions in Nigeria look better mind that your stupid mouth before I’ll finish you here ….

    • Avatar of
      Anonymous

      You are very useless and an animal

  2. Avatar of Victor
    Victor

    Beautiful and well organized one

  3. Avatar of
    Anonymous

    There is no sign that this battle will ease anytime soon. I do wonder why Binance keeps having regulation crises in most countries. However, I am not happy because 70% of my portfolio is in Binance but recently I had to switch to Bitget due to its regulatory compliance nature.

  4. Avatar of
    Anonymous

    Why when they started operation the government kept quiet until this time.

    • Avatar of
      Anonymous

      $ is down to 1300 and the cost of living in Nigeria is still at 1900 and you say binance is the problem of Nigeria how

      • Avatar of
        Anonymous

        Did it get to 1900 in one day? Did the cost of living rise to that level in one day?did it go back to 1300 in one day?will the cost of living go back to 1300 in one day

      • Avatar of Abdulkadir Ahmad Yunusa
        Abdulkadir Ahmad Yunusa

        Don’t hide behind keys, reveal yourself if you aren’t mischievous

  5. Avatar of
    Anonymous

    Well, we’re officially screwed now. Useless country

    • Avatar of
      Anonymous

      hhhh

  6. Avatar of
    Anonymous

    Useless Leaders NOT COUNTRY. I hope this will end well.

    • Avatar of
      Anonymous

      Tinubuuuu 🤗🤗🤗🥹🥹🥹

  7. Avatar of Anonymous
    Anonymous

    The government is just looking for who to blame in mismanaging the Naira and economy. Binance is not our problem in Nigeria.

  8. Avatar of
    Anonymous

    Govrt than banned crypto want to collect taxes from crypto😂😂😂,it’s like it is only taxes our government know how to collect.instead of liasing with binance to enable Nigerians benefit from the platform.

  9. Avatar of
    Anonymous

    Hmm that’s Nigeria where nonesensity goes to survive
    You Nigeria hate to see your citizens at ease maybe you just want everyone to be like that bandits, mtsww

  10. Avatar of
    Anonymous

    Nigeria leaders should look for perfect way to solve the country’s problem not putting the fault on others

    • Avatar of
      Anonymous

      THANK YOU BROTHER

  11. Avatar of
    Anonymous

    Selfish leaders. They will still loot the $10B

  12. Avatar of Roland Uti
    Roland Uti

    This is the same reason why big corporations like Paypal and the rest have delisted Nigeria from their operations coverage and these corporations are what the youths need to leverage over the harsh economic hardship in Nigeria yet i see one myopic idiot commending what the government is doing. Nobody say they should not collect taxes but not by trying to put these corporations out of business. What some short sighted people will never never seem to realize is that these politicians in power are only looking for a way to make wealth reside solely in their hands alone and not in the hands of the masses.

  13. Avatar of Awala
    Awala

    Please allow binance to be.

  14. Avatar of
    Anonymous

    Allow binance to be

  15. Avatar of Kingsley
    Kingsley

    Nigerian Government should embrace crypto space and have a common understanding with the CEX and as well use them as a medium of transactions for direct NAIRA to crypto transaction and this will as well help her currency 💵💵💵💵 to be strengthen in the financial markets…

  16. Avatar of Anon
    Anon

    Nigeria as a country doesn’t want to address her problems. Binance is not!! Stupid @ssholes

  17. Avatar of johnne Madubuike Gabriel
    johnne Madubuike Gabriel

    The Nigerian government is clueless, inept and incompetently incompetent

  18. Avatar of
    Anonymous

    Na Ogun go kill our leaders.

  19. Avatar of
    Anonymous

    Good country being governed by foolish leaders that Acts before thinking

  20. Avatar of
    Anonymous

    Nigeria my country even USA 🇺🇸 is chage binance 4bilion but Nigeria 10 billion or Nigeria what of all this show to the worl corruption in Nigeria

  21. Avatar of
    Anonymous

    For all those years Binance has been operating the govt never knew this till now. The FG administrators are the problem not Binance. Screwed set of administrators. Shame

  22. Avatar of
    Anonymous

    High Corruption in Nigerian system not binance .

  23. Avatar of Osù Adekiitan.
    Osù Adekiitan.

    Hello big brothers in Binance. Pls, I want to suggest two things: 1) For God’s sake n for the sake of economic emancipation of the poor masses of our Country Nigeria, find a way of settling this issue even if it means surcharging the accounts of fellow Nigerians doing business with you. Am sure people will prefer this to “delisting Nigeria”, for it’s obvious that Nigerians are more confident with Binance. But, let me quickly add/suggest that you should at the end of the day release the so called tax into the coffers of our central bank, notifying Nigerians and our erudite Mr Carlos, so the money should be put to good use. 2) If there’s a way of dancing around the issue “without delisting Nigeria”, pls do so. God bless Binance, God bless Nigeria and Nigerian like Mr Yemi Cardoso who means well for fellow Nigerians. Shalom!

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