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Binance exec escapes custody in Nigeria


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One of the two detained Binance execs has reportedly escaped from custody in Nigeria. According to a Nigerian local media, the exec identified as Mr. Anjarwalla escaped from the guest house where he and his colleague were detained amid the regulatory tussle between Binance and the Nigerian Government.

Before escaping from custody, Anjarwalla was led to a mosque for prayers by guards in the spirit of the Ramadan. The local media added that the exec has now flown out of Abuja through a Middle East airliner, thus fueling speculations about his whereabout. According to a Nigerian immigration officer, Anjarwalla escaped using a Kenyan passport, affirming the commitment of the Nigerian government to investigate the incident.

Recall that the two execs were nabbed upon their arrival in Nigeria last month after the government accused Binance of providing enablement for money launderers. According to representatives of the Federal Government, not less than $26 billion was traded on the exchange by Nigerians whose identities remain unknown

Meanwhile, the government dragged the two execs before a Magistrate court in Abuja. Then, the court approved the request of the Economic and Financial Crime Commission to detain the execs for 14 days. More so, Binance was asked to provide detailed information of Nigerians using its services.

However, Binance said it was informed about Anjarwalla was no longer in custody. While the exchange decided not to comment on the whereabout of Anjarwalla, it emphasized its unflinching dedication to protecting its employees.

FIRS drags Binance to court over tax evasion

Today, the government initiated another lawsuit against Binance, accusing the exchange of tax evasion. In the suit, the Nigerian Inland Revenue Service slapped Binance with four tax evasion charges. The agency said it took the drastic step to uphold fiscal responsibility and safeguard the economic integrity of Nigeria.

The charges include non-payment of Value-Added Tax, Company Income Tax, complicity with file tax returns, and many more. FIRS said Binance’s failure to register for tax purposes contravenes existing laws in the country.

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Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

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