The Federal Government of Nigeria has filed a fresh suit against Binance Holdings Limited at a Federal High Court seeking an aggregate compensation of $81 billion in economic losses and tax evasion.
The suit marked FHC/ABJ/CS/1444/2024, was brought by the Federal Inland Revenue (FIR), claims a fine of $79 billion for economic loss and $2 billion income tax arrears and N231 million for economic losses caused to Nigeria by Binance operations.
The FIRS also claimed that Binance and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, caused Nigeria economic losses by failing to register its cryptocurrency operations with the service.
Recall that the Economic and Financial Crimes Commission (EFCC) was prosecuting Gambaryan and Nadeem on a five-count charge bordering on allegations of money laundering, tax evasion and foreign exchange violations before the Nigerian and US governments reached a diplomatic agreement to discontinue the trial on Gambaryan’s health grounds.
READ MORE:Peter Obi Donates N20 Million to Joseph D. Bagobiri Memorial College
According to an online platform, Nairametrics, the FIRS alleged that Binance’s alleged liabilities include a 10% penalty for non-payment of income tax for 2022 and 2023, and a 26.75% interest rate, being the prevailing Central Bank of Nigeria (CBN) lending rate per annum, from January 1, 2023, and January 1, 2024, respectively, among other charges.
Follow Parallel Facts on WhatsApp Channel:https://whatsapp.com/channel/0029VaCQSAoHgZWiDjR3Kn2E
