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Binance Reacts As FG Drops Tax Charges Against Executives

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Crypto exchange platform, Binance has reacted after its officials executives, Tigran Gambaryan, and Nadeem Anjarwalla were discharged of tax evasion charges filed by the Federal Inland Revenue Service.

They were cleared on Friday by the Federal High Court in Abuja.

The court’s decision came on Friday after the FIRS submitted amended charges that effectively dropped the tax evasion allegations against Gambaryan and Anjarwalla, who absconded to Kenya

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This change followed Binance’s notification of appointing a Nigerian representative, Ayodele Omotilewa, to handle its local operations. The original charges, filed on March 22, 2024, accused Binance and Gambaryan of tax evasion.

In a shared note with The PUNCH, the platform said it was relieved that tax charges against Gambaryan and Anjarwalla have been dropped because they are decision-makers at the company.

The platform said, “We are relieved that the Federal Inland Revenue Service (FIRS) has served and filed amended charges today, resulting in tax charges against Tigran Gambaryan being dropped.

“This further illustrates that Tigran is not a decision-maker at Binance and does not need to be held in order for Binance to resolve issues with the Nigerian government. We await the court’s ruling on this, discharging Tigran from this matter completely.”

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The crypto platform also called on the Economic and Financial Crimes Commission to take similar steps, allowing Gambaryan to return home to his family.

It emphasized Gambaryan’s deteriorating health due to 110 days of detention, during which he was diagnosed with malaria and pneumonia.

We commend the FIRS for their diligence and professionalism throughout this process. This situation unequivocally demonstrates Binance’s commitment to resolving this issue with the government transparently and cooperatively.

“In order for Tigran to be allowed to go home to his family, we are hopeful that the Economic and Financial Crimes Commission (EFCC) will take similar steps.

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“Tigran has been detained for 110 days, and his physical health is deteriorating, including a recent malaria and pneumonia diagnosis. Binance is committed to continuing to work with the Nigerian government to resolve this,” Binance added.

The next hearing in the case is scheduled for June 19, 2024. where the application for an order for the enforcement of fundamental rights will be heard.

On June 20, the EFCC trial is due to continue, while Tigran will remain detained at Kuje prison.

Since Tigran collapsed in court on May 23rd with Malaria, his health conditions have worsened and Tigran now has pneumonia.

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Despite a court order by Justice Emeka Nwite to take Tigran to the hospital immediately, it took the prison authorities 11 days to take him for a brief check-up.

The PUNCH reported last week that 16 US Members of Congress, including the chair of the Foreign Affairs Committee, Michael McCaul wrote to President Biden highlighting that he is a “U.S. Citizen wrongfully detained by a foreign government,” and urging him to do more to secure his release.

Recall the the Federal Government had accused the cryptocurrency exchange of manipulating foreign exchange (FX) rates, which led to increased scrutiny of crypto trading platforms.

Separately, the EFCC is prosecuting Binance and its executives on charges of alleged money laundering and foreign exchange violations.

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On February 28, 2024, Nigerian authorities detained two senior Binance executives when they arrived in Nigeria for a meeting following the Federal Government’s ban on cryptocurrency channels, part of a broader campaign against currency speculation

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Ex-SDP presidential candidate Adebayo describes guber poll ‘Ondo Auction’

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The 2023 presidential candidate of the Social Democratic Party, SDP, Prince Adewole Adebayo, has described the governorship election in Ondo State as an “Ondo auction,” that was not close to a free and fair election that the people all yearned for.

He contended that the election was less about genuine democracy and more about transactional politics, with ‘willing buyers’ and ‘willing sellers’ dominating the process.

Reacting to the declaration of Governor Lucky Aiyedatiwa of the All Progressives Congress, APC, as the winner by the Independent National Electoral Commission, INEC, on Sunday, Adebayo wrote on his X account that the Ondo election could serve as a case study for the Central Bank’s foreign exchange practices, given the efficient “marketplace” nature of the vote.

Adebayo maintained that there was a complete lack of authentic engagement of voters, stressing that ballots suddenly became commodities for trading for the highest bidder, against the decency required in an election.

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In his post, Adebayo remarked: “The Ondo State Governorship Election of yesterday is what criminologists would term as victim-less crimes: a spectacle of willing buyers @OfficialAPCNg meeting willing sellers in a perfect market that should be an example for @cenbank in the foreign exchange markets. Ondo Auction is smoother than the Dutch Auction. Four years sold so freely and openly that no one should lie that they were coerced or intimidated or browbeaten. And @PoliceNG and @inecnigeria @AIT_Online @ARISEtv @KAFTAN_TV @channelstv @NTANewsNow all witnessed it live.

“No one should pretend that they need someone to interview over this. It is in order to congratulate the buyers on their purchased ‘victory’ while shedding some tears for the sellers with the Calvary elegy that ‘Father Forgive Them For They Knoweth Not What They Do.’ God Bless Nigeria and may God Guide Ondo State.”

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NAF Airstrikes neutralize bandit leaders’ key loyalists in Zamfara

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The Nigeria Airforce said its Operation Fansan Yamma has executed further air interdiction missions in Zamfara State, on 15 November 2024.

Air Commodore Olusola F Akinboyewa, Director Public Relations and Information Headquarters, Nigerian Air Force in a statement, said the airstrikes targeted a large assembly of bandits in Babban Kauye village, situated in Tsafe Local Government Area of Zamfara State.

“Intelligence sources revealed that the congregation of criminals was perfecting plans for coordinated attacks against military personnel or civilians along the Tsafe axis.

“Upon receiving credible intelligence, the NAF launched a series of devastating airstrikes, inflicting significant casualties on the criminal elements. Reports from the ground confirmed the successful elimination of numerous high-ranking members of the bandit groups, dealing a severe blow to their operational capacity.”

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“Tsafe Local Government Area has long been a flashpoint for bandit activities, with factions loyal to Dan-Isuhu and Dogo Sule notorious for orchestrating violent assaults on local communities, security forces, and vital infrastructure. These groups have utilized remote settlements like Babban Kauye as strategic safe havens, from which they coordinate and execute their nefarious operations.

“The latest airstrikes represent a robust response and support for the Theatre Command of Operation FANSAN YAMMA by the NAF, aligning with broader efforts to dismantle and completely degrade bandit networks in the region, disrupt planned attacks with a view to restoring peace and stability to the embattled Northwest.

“The NAF remains resolute in its mission, in collaboration with sister Services and other security agencies to secure the region and indeed the nation as a whole, as we work to eliminate threats posed by terrorists, bandits and all other criminal elements working against the peace and prosperity of our beloved country.”

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Tinubu, Lagos meddling in Kano’s affairs — Kwankwaso

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The leader of the Kwankwasiyya Movement and the 2023 presidential candidate of the New Nigeria Peoples Party, NNPP, Rabiu Musa Kwankwaso, has raised concerns over the Tinubu government’s preference for Lagos State against other states of the federation.

To this end, Kwankwaso accused Lagos of attempting to dominate other regions in the country, particularly Kano, because of the overwhelming support it receives from the central government.

Kwankwaso alleged that Lagos is meddling in Kano’s internal matters, including the selection of its emir.

He made the claims during a speech at the convocation ceremony of Skyline University in Kano on Sunday.

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“Today, we can see very clearly that there are significant efforts from the Lagos axis to colonise this part of the country. Lagos wouldn’t allow us to choose even our Emir; instead, they want to impose their own Emir on Kano,” he stated.

Kwankwaso, whose main target was President Tinubu, said further: “Lagos today feel they only are Nigeria, interfering in other states’ affairs. We will not tolerate such actions here in Kano.”

Kwankwaso’s comments reflected deeper concerns about the alleged regional imbalance in governance and traditional institutions, particularly under the current administration of President Bola Tinubu.

Many believe that the administration of President Tinubu has given more attention to Lagos State, with trillions of naira projects being awarded to the state to the detriment of other states.

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