News
Binance Reacts As FG Drops Tax Charges Against Executives
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
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.”
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.
“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.
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.
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
Punch
By Gloria Ikibah
As part of the annual 16 Days of Activism Against Gender-Based Violence, the House of Representatives is set to lead a historic march on Monday, November 25, 2024, in a bold effort to tackle gender-based violence (GBV) in the country.
The march, which begins at 8:00 AM, will see over 1,000 participants, including lawmakers and members of the public walk from the National Assembly to the Nigeria Police Force Headquarters in Abuja. The event will culminate in the submission of a petition to the Inspector General of Police, demanding decisive action against GBV and greater protection for vulnerable groups.
Speaking about the initiative, the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, PhD., GCON, said, “This march and the activities that follow are not mere gestures but a reflection of our determination to confront gender-based violence head-on. We are committed to building a society where justice, equality, and safety prevail for all Nigerians.”
In a statement by the House Spokesperson, Rep. Akin Rotimi on Saturday in Abuja, he said, “The 10th House of Representatives has reaffirmed its commitment to systemic reforms, collaboration, and accountability in the fight against gender-based violence.
“In addition to the march, the House has outlined key activities in alignment with its Legislative Agenda (2023–2027) to sustain awareness and action throughout the campaign period.
“Sash Demonstration Ceremony – Tuesday, November 26, 2024
“Convergence of State Assembly Speakers – Monday, December 9, 2024. A strategic meeting at the Transcorp Hilton, Abuja, will bring together Speakers of State Houses of Assembly to discuss legislative measures for combating GBV nationwide.
“National Citizens’ Summit and GBV Conference 2024 – Tuesday, December 10, 2024. The summit will focus on constitutional reforms and securing endorsements for gender equality initiatives led by the House of Representatives”.
Naijablitznews.com reports that this year’s 16 Days of Activism aims to galvanise nationwide efforts and inspire collective action to protect human rights, ensure justice, and create a safer, more equitable Nigeria.
President Bola Tinubu has departed Galeao Air force Basa (SBGL) Airport, Rio de Janeiro, Brazil, on Saturday, for Abuja after attending the 19th G20 Leaders Summit in Rio de Janeiro, Brazil.
The President is due to arrive at the Presidential Wing of Nnamdi Azikiwe International Airport, Abuja, at 10.00 p.m. (Nigerian time).
President Tinubu had attended the G20 Leaders summit where he endorsed the global alliance against hunger and poverty, which he said was pivotal.
The President also held bilateral talks with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), who commended his administration’s economic reforms and their positive indicators.
He also presided over the signing of a 2.5 billion dollar Letter of Intent between the Nigerian government and the JBS S.A., a Brazilian company and one of the top three largest meat processing companies in the World.
The president was accompanied in the trip by senior government officials including the minister of foreign affairs yusuf Tuggar, the national security adviser, Nuhu RIBADU and many others.
HoR to Lead March, Launch Initiatives Against Gender-Based Violence
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