Local media sites said on Monday that Nigerian authorities had accused Binance, the largest cryptocurrency exchange in the world, with tax evasion as the two parties’ weeks-long dispute grew more intense. The allegation cited a statement from the nation’s tax agency.
The Federal High Court in Abuja received the allegations from the Federal Inland Revenue Service (FIRS), which also named two executives of Binance that were taken into custody by the government, according to a report from one site.
There are four charges of tax evasion against the exchange: “non-payment of Company Income Tax, Value-Added Tax (VAT), failure to file tax returns, and complicity in assisting customers in evading taxes through its platform.”
After the Nigerian government scrutinised and criticised the cryptocurrency exchange for weeks—even inviting and detaining two Binance executives—the charges were announced. The platform reportedly handled billions of dollars’ worth of alleged illicit funds, according to the authorities, and determined the value of the naira in local currency.
Over the weekend, Premium Times reported, citing persons familiar with the situation, that Nadeem Anjarwalla, one of the two executives detained by the government, had escaped.
Bloomberg was informed by presidential spokesperson Bayo Onanuga that Anjarwalla had escaped. Binance further informed the publication that the business was informed Anjarwalla is no longer being held by Nigerian police.