Binance executive on the run after escaping police custody in Nigeria amid tax evasion charges
Published: 25 March 2024 at 12:37
Business
Nadeem Anjarwalla, Binance\'s regional manager for Africa, escaped custody in Nigeria and fled the country after being detained with fellow executive Tigran Gambaryan in February. Nigerian authorities have charged Binance with tax evasion, including non-payment of VAT and income tax. Nigeria has the world\'s second-highest crypto adoption rate and is cracking down on exchanges due to the naira\'s sharp devaluation. Binance will stop all transactions in Nigeria\'s local currency and convert remaining balances to Tether, pegged to the U.S. dollar.
SOURCES
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