₦airaland Forum

The Federal Government has dragged Finance Holdings Limited to the Federal High Court, seeking compensation of $79.51 billion and N231 million for alleged economic losses caused by the operations of the cryptocurrency exchange company.

In a suit marked FHC/ABJ/CS/1444/2024, the third against Binance, the Federal Inland Revenue Service (FIRS) is also asking the court to compel the company to pay $2.001 billion in income taxes for 2022 and 2023.

The FIRS also claimed that Binance and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, caused Nigeria economic losses by failing to register with the service.

The *Guardian* also learned that Binance has been charged with tax evasion, money laundering, and foreign exchange violations.

The charge was brought before Justice Emeka Nwite of the FHC in Abuja by the FIRS and the Economic and Financial Crimes Commission (EFCC).

The suit places a 10 per cent penalty for non-payment of taxes for 2022 and 2023, a 26.75 per cent interest rate (the prevailing Central Bank of Nigeria lending rate) per annum from January 1, 2023, and January 1, 2024, respectively, among other penalties.

Binance is also accused of breaching Nigeria’s Companies Income Tax Act, the Federal Inland Revenue Service (Establishment) Act 2007, the CBN Regulatory Framework for Mobile Money Services, and the CIT Significant Economic Presence (SEP) Order, which covers any foreign company deriving at least ₦25 million annually from digital services in Nigeria.

TruthHurts1:
APC is really the worst thing to ever happen to Nigeria.

The rapid devaluation of the Naira started in 2015 when the utterly incompetent, gworo chewing Fulani Herdman from Daura began ruining the country while Tulumbu stood by and hailed him as a genius.

Binance was not even in existence in 2015, but the Agbado tout wants to hang his blunders on them and make them a scape goat.

Maybe Nigerians will finally learn their lesson after 4 years of this MU-MU ticket inspired incompetence.

RealityKings1:
Binance a company with no particular physical headquarters... A legitimate company having to do with money and it's similar factors ought to have a physical headquarters if it was legitimate.

Prior to the arrest of binance officials, they were pushing the narrative that binance was owned by a Chinese guy.
Its funny, it's owned by one Tigran Gambaryan, a US citizen.

TruthHurts1:
That is besides the point. The question we should be asking is how did Nigeria's public funds end up on their cryptocurrency exchange which is the excuse that Tulumbu is using.

Which political party has been in charge of Nigeria's foreign reserves, earnings from crude oil sales, taxation etc since 2015, before and after Binance even came into existence?

So if Nigerian public funds end up in Binance's exchange, which party should be held responsible?

RealityKings1:
Binance a company with no particular physical headquarters... A legitimate company having to do with money and it's similar factors ought to have a physical headquarters if it was legitimate.

Prior to the arrest of binance officials, they were pushing the narrative that binance was owned by a Chinese guy.
Its funny, it's owned by one Tigran Gambaryan, a US citizen.

MasterJayJay:
Throw away that smart phone cos it is useless to you.

You can't google 'founder of binance' online?

The FIRS also claimed that Binance and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, caused Nigeria economic losses by failing to register with the service

RealityKings1:
Binance a company with no particular physical headquarters... A legitimate company having to do with money and it's similar factors ought to have a physical headquarters if it was legitimate.

Prior to the arrest of binance officials, they were pushing the narrative that binance was owned by a Chinese guy.
Its funny, it's owned by one Tigran Gambaryan, a US citizen.