Tigran Gambaryan, the Head of Binance‘s financial crime compliance unit, remains in detention at Kuje Correctional Centre after his February arrest. The Nigerian authorities are currently in discussions with Binance to facilitate his release. Gambaryan is under investigation by the Economic and Financial Crimes Commission (EFCC) for allegedly assisting with money laundering activities.
The Federal Government has accused Binance of facilitating tax evasion for its customers through the Federal Inland Revenue Service (FIRS). Binance is alleged to have violated five counts by allowing customers to evade Value Added Tax (VAT), neglect filing tax returns, fail to pay Company Income Tax (CIT), and assisting in tax avoidance schemes.
At the Token2049 Crypto Conference in Dubai, Binance CEO Mr. Richard Teng publicly commended the company’s efforts in cooperating with Nigerian law enforcement to tackle the underlying issues. The Ambassador mentioned that “the UK has been working closely with the Nigerian police to find resolutions for the problems causing this predicament.”
Vishal Sacheendran, the Regional Markets Head at Binance, expressed his sense of relief and contentment with the statement, “This is a first for us.” However, Nigerian authorities have raised concerns about possible tax evasions and potential breaches of Binance’s anti-money-laundering regulations.
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2024-04-19 01:11