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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.
Nigeria's @firsnigeria has reportedly charged @binance with tax evasion. By @iamsandalihttps://t.co/eWuhPKeOyx
— CoinDesk (@CoinDesk) March 25, 2024
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
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.
Good job Nigeria
You are stupid
Your papa
Very stupid oo
Good job for what. Is Binance Nigeria problem. Why should they detain Binance staffs
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
What do you about TAX?
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.
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.
What do you know about taxes and legal framework of multinational companies?
ASK THEM OH
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
You are not okay
If ogun no kill you in night e kill for morning werey
You are a mad man …. Ignorance of all time
If I get gun. I swear I will kill you and that your useless cow brain
Idiot….
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!
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 ….
You are very useless and an animal
Beautiful and well organized one
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.
Why when they started operation the government kept quiet until this time.
$ 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
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
Don’t hide behind keys, reveal yourself if you aren’t mischievous
Well, we’re officially screwed now. Useless country
hhhh
Useless Leaders NOT COUNTRY. I hope this will end well.
Tinubuuuu 🤗🤗🤗🥹🥹🥹
The government is just looking for who to blame in mismanaging the Naira and economy. Binance is not our problem in Nigeria.
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.
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
Nigeria leaders should look for perfect way to solve the country’s problem not putting the fault on others
THANK YOU BROTHER
Selfish leaders. They will still loot the $10B
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.
Please allow binance to be.
Allow binance to be
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…
Nigeria as a country doesn’t want to address her problems. Binance is not!! Stupid @ssholes
The Nigerian government is clueless, inept and incompetently incompetent
Na Ogun go kill our leaders.
Good country being governed by foolish leaders that Acts before thinking
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
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
High Corruption in Nigerian system not binance .
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!