Nigeria Charges Binance with Tax Evasion, Seeks Arrest of Escaped Executive

The Nigerian government has filed tax evasion charges against Binance and is pursuing an international arrest warrant for escaped executive Nadeem Anjarwalla.

Nigeria has filed tax evasion charges against cryptocurrency exchange Binance and is seeking an international arrest warrant for Binance's regional manager for Africa, Nadeem Anjarwalla, who fled custody last week.
Anjarwalla, a British-Kenyan, escaped custody after guards took him to a mosque for prayers. His colleague, Tigran Gambaryan, a U.S. citizen and Binance's head of financial crime compliance, remains detained.
The charges include non-payment of value-added tax (VAT), company income tax, failure to file tax returns, and complicity in aiding customers to evade taxes through Binance's platform.
Binance ended support for the Nigerian naira on its platform after the country-wide crackdown on crypto exchanges, which authorities blame for fueling demand for U.S. dollars on the black market.
The Nigerian government alleges that Binance processed billions of dollars worth of suspected criminal funds and set an exchange rate for the local currency, the naira.