Summary
TLDR: Binance executive detained in Nigeria escapes custody, has not been charged with a crime. Nigeria also files tax evasion charges against Binance. Binance ends support for Naira after allegations of passing $26 billion through its Nigeria branch. Nigerian officials considering fines against the crypto exchange.
Key Points
1. An executive detained by Nigeria for weeks escaped custody on Friday.
2. Binance’s regional manager for Africa, Nadeem Anjarwalla, was detained in late February alongside the head of financial crime compliance, Tigran Gambrayan.
3. Nigeria filed tax evasion charges against Binance, accusing the company of nonpayment of value-added tax and company income tax, failure to file tax returns, and complicity in aiding customers to evade taxes through the platform.