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Detained British Binance Executive Escapes From Nigerian Custody

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Nadeem Anjarwalla, One of the two Binance executives detained in Nigeria for alleged tax evasion and other offences has escaped from lawful custody.

 

According to a report by Premium Times, Anjarwalla escaped on Friday, March 22, from the Abuja guest house where he and his colleague were detained after guards on duty led him to a nearby mosque for prayers in the spirit of the ongoing Ramadan fast.

 

The Briton, who also has Kenyan citizenship, is reported to have flown out of Abuja using a Middle East airliner.

 

AIT.live has contacted the Head of Strategic Communication at the Office of the National Security Adviser, Zakari Mijinyawa, over the escape of the Binance executive from detention, but he is yet to respond to calls and messages sent to his phone.

 

It remains unclear how Anjarwalla got on an international flight despite seizure of his British passport, with which he entered Nigeria, now in possession of the Nigerian authorities.

 

Authorities are also said to be working to unravel his intended destination in a bid to get him back into custody.

 

An Immigration official said the Binance executive fled Nigeria using his Kenyan passport. He, however, said authorities were trying to determine how he obtained the passport, given that he had no other travel document (apart from the British passport) on him when he was taken into custody.

 

The two officials, according reports were held at “comfortable guest house” and allowed many rights, including the use of telephones, which is the privilege Anjarwalla was believed to have exploited to plot his escape.

 

Anjarwalla who is the Binance’s Africa regional manager, and Tigran Gambaryan, a U.S citizen overseeing financial crime compliance at the crypto exchange platform, were detained upon their arrival in Nigeria on February 26, 2024.

 

A criminal charge was filed against the two executives before a Magistrate Court in Abuja. On 28 February 2024, the court granted the Economic and Financial Crimes Commission, EFCC an order to remand the duo for 14 days. The court also ordered Binance to provide the Nigerian Government with the data and information of Nigerians trading on its platform.

 

Following Binance’s refusal to comply with the order, the court extended the remand of the officials for an additional 14 days to prevent them from tampering with evidence. The court then adjourned the case till April 4 2024.

 

Also on March 22, the Nigerian Government approached the Federal High Court in Abuja and slammed another four-count charge on Binance Holdings Limited, Anjarwalla and Gambaryan, accusing them of offering services to subscribers on their platform while failing to register with the Federal Inland Revenue Service,/FIRS to pay all relevant taxes administered by the Service and in so doing, committed an offence, contrary to and punishable under Section 8 of the Value Added Tax Act of 1993 (as Amended).

 

The defendants were also accused of offering taxable services to subscribers on their trading platform while failing to issue invoices to those subscribers to determine and pay their value-added taxes and, in so doing, committed an offence contrary to and punishable under S.29 of the Value Added Tax Act of 1993 (as amended).

 

The Nigerian Government had, in the past three months, been cracking down on suspected money launderers and terrorism financiers, some of whom it alleged are using the Binance platform for criminal activities.

 

The Nigerian Government said over $21.6 billion was traded by Nigerians whose identities were concealed by Binance. The government also claimed its investigations revealed that unscrupulous elements were using Binance for money laundering, terrorist financing, currency speculation and market manipulation, distorting the Nigerian economy and weakening the Naira against other currencies.

 

The detention of Binance officials in Nigeria began months after the crypto exchange platform pleaded guilty and agreed to pay $4.3 billion to settle criminal money laundering charges levied by the U.S Department of Justice.

 

Binance founder and CEO Changpeng Zhao, also known as CZ, pleaded guilty and agreed to resign. His criminal trial has been postponed to April 30 by a U.S court.

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FG begins demolition of Landmark Beach for Lagos-Calabar highway project

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Dave Umahi, The Minister of Works, on Saturday in Lagos, flagged off the demolition of a section of the Landmark Beach, the Mami Chula Beach Lifestyle, to give way to the Lagos-Calabar Coastal Highway.

Umahi began the demolition after he inspected kilometres 13, 16 and 20 to ensure the most economical and viable way to access the coastal roads without much damage.

He noted that the demolition was necessary since the landmark centre was on the federal government’s Right-of-way.

The minister stressed that several structures would be affected by the demolition, adding that compensation would be provided.

Mr Umahi said, “So with the utmost fear of God, gratitude to God Almighty and the commitment to President Bola Tinubu’s Renewed Hope Agenda in our infrastructural development agenda in particular, I wish to flag off this demolition.

”It’s in a right-of-way within the coastal corridor, which is the legitimate right-of-way of the federal government.

“Before the flag-off of the landmark’s demolition, I graciously increased the grace period by another seven days and yet another four days, and here we are because the project stopped because of a lack of demolition.”

The minister acknowledged that some people opposed the project and insisted it was necessary for economic development.

He assured those affected by the demolition that they would be adequately compensated and added that documentation would start between May 2 and 3.

Mr Umahi also assured that he would be available throughout the week to address any confirmation or payment issues related to the demolition.

Responding, the chief executive officer of Mami Chula Beach, Bolaji Ariyo, acknowledged the project’s necessity for development, even when it causes inconvenience for a small number of people.

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Yahaya Bello: American Int’l School Explains Refund of Fees to EFCC

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The American International School Abuja (AISA) yesterday provided additional information and context to clarify the issues around its decision to refund the school fees paid by former Kogi State Governor, Yahaya Bello, to the Economic and Financial Crimes Commission (EFCC).

The Head of School, Greg Hughes, said the school actually turned in the funds in compliance with the commission’s request and denied any wrongdoing.

He also reaffirmed the institution’s commitment to upholding institutional integrity and respect for institutions in the country.

Hughes said: “Our compliance to remit these funds underscores our commitment to upholding institutional integrity and our respect for the national institutions of Nigeria.

“Upon learning that the school fees we accepted in good faith were, in fact, part of an ongoing case with the EFCC, we turned over these funds in compliance with this federal commission’s request.”

Citing the subjudice status of the issue as a result of the ongoing case between the EFCC and Bello, the school averred that “we will refrain from making any further comments at this time.”

The statement dated April 26, 2024, read: “Recent media reports have highlighted issues between the Economic Financial Crimes Commission (EFCC), AISA and a family with children enrolled at the school, stemming from an investigation carried out in 2022.

“As a school, we did accept an advance payment for school fees, and duly documented these fees in our records.

“Upon learning that the school fees we accepted in good faith were, in fact, part of an ongoing case with the EFCC, we turned over these funds in compliance with this federal commission’s request…”

It added: “At no point has the school been accused of any wrongdoing about this case, and we are cooperating fully with the EFCC to address matters currently before the courts.

“As these legal matters are being resolved within the Nigerian judicial system and involve one of our families, we will refrain from making any further comments at this time.

“As an institution, we remain committed to providing excellent service to our school community in line with our core values, vision and mission,” the statement explained.

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Otu inaugurates 50,000-hectare rice farming initiative

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Prince Bassey Otu, Cross River governor, has initiated a large-scale rice project, spanning 50,000 hectares.

The endeavour is supported by a credit scheme, which sees the state allocating a whooping N150 million monthly, towards agricultural development initiatives.

The ceremony marking the commencement of the project took place in Ndok community, Ogoja local government area of Cross River, weekend.

Otu, at the event, affirmed his administration’s readiness to revolutionise the agricultural sector.

He stressed the need for a direct collaboration with rice farmers to meet the cultivation of the extensive 50,000 hectares.

“We are engaging with groups of farmers as part of our agricultural revolution, focusing initially on short-term cash crops like rice, cocoa, and cassava.

“We are also progressing towards the development of oil palm and rubber plantations,” the governor remarked.

Continuing, Otu said, “we are committed to working along with every farmer while ensuring the provision of essential resources and I extend this assurance to the traditional leaders based on our long-term commitment to this course.”

On a credit-guarantee scheme established to facilitate financial assistance for dedicated farmers, Otu encouraged individuals to seize the opportunity in order to enhance productivity, emphasising the need for proactive engagement in agriculture.

He charged the citizenry to take advantage of the numerous resources in the state to remain proactive while help in turning Cross River into an industrial hub.

Earlier, Commissioner for Agriculture and Irrigation, Johnson Ebokpo Jnr, informed of government’s strategic approach to agricultural development, explaining the various policies put in place to attract private sector investments, while making agriculture the cornerstone of the state’s economy.

Ebokpo said: “Significant investments have been made in acquiring new tractors to enhance mechanisation efforts. The tractors, being distributed across the local government areas in Cross River will be managed by cooperatives, comprising men and women.”

According to the Agric Commissioner, “the initiative aims to empower the youths while supporting small-holder farmers in scaling up their operations.”

Chairman, Cross River Rice Farmers Association, Emmanuel Anoh, projected a minimum rice yield of 6 tonnes per hectare, translating to 140 bags of 50kg rice per hectare, hinting that the significant increase in production capacity was poised to transform the food industry in Nigeria.

Anoh also applauded government’s agricultural initiatives as he expressed hope that the result would tremendously benefit the populace and boost the sector.

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