Tigran Gambaryan, the top executive of Binance Holdings Limited, has been evacuated from Nigeria by the United States using a medically prepared aircraft. The Nigerian government dropped its money laundering allegations against Gambaryan, and he was freed. Less combative discussions between Nigerian and US officials led to Gambaryan’s release, according to US National Security Advisor…
Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited were cleared of tax evasion by the Abuja Federal High Court on Friday. The Federal Inland Revenue Service (FIRS) filed the complaint before the court. This court issued the verdict on Friday, after the FIRS modified its allegations in response to Binance’s appointment of a Nigerian…
Due to suspected tax evasion, the Federal Government has filed criminal charges against well-known cryptocurrency exchange site Binance. The Federal Inland Revenue Service, or FIRS, revealed the accusations on Monday. They were filed before the Federal High Court in Abuja. The case, which has the case number FHC/ABJ/CR/115/2024, accuses Binance of four counts of tax…
According to information released by Binance, 281 Nigerian accounts were blocked in 2022 because of worries about money laundering. The cryptocurrency exchange platform Binance said in a statement posted on its website that during the fourth quarter, a team from the company traveled to Nigeria twice to provide the Economic and Financial Crimes Commission personnel…
Due to an ongoing dispute over regulations in Nigeria, Binance will no longer be offering any services for the naira, the country’s fiat currency. The cryptocurrency exchange will stop accepting NGN deposits after 14:00 UTC today, however it will automatically convert Naira holdings to USDT starting on March 8 at 8:00 a.m. UTC. The assistance…
Allegations that Binance, a cryptocurrency trading platform, influenced the nation’s FX crisis have resulted in a $10 billion fine from the Federal government. This Friday morning, March 1, President Bola Tinubu’s special information and strategy adviser, Bayo Onanuga, said in a BBC interview. In Nigeria, Onanuga claims, Binance made significant profits from its “illegal transactions,”…
The Nigerian government has blocked Binance and other crypto businesses’ internet platforms in order to prevent what it views to be ongoing forex market manipulation and illicit financial movement. Aside from Binance, other services, including Forextime, OctaFX, Crypto, FXTM, Coinbase, and Kraken, were also restricted. According to presidential and regulatory officials, the government decided to…