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The Federal Government on Monday initiated proceedings against prominent cryptocurrency exchange platform Binance ,over tax evasion.
According to the Federal Government this was a decisive move aimed at upholding fiscal responsibility and safeguarding the economic integrity of the country.
Following the charges filed at the Federal High Court in Abuja the Federal Inland Revenue Service, FIRS implicated Binance with four tax evasion accusations which include non-payment of Value-Added Tax, Company Income Tax, failure to file tax returns, and complicity in aiding customers to evade taxes through its platform
Meanwhile one of the two Binance executives detained under the custody of the Economic and Financial Crimes Commission for alleged tax evasion and other offences, Nadeem Anjarwalla, has reportedly escaped from custody. He was said to have escaped from the Abuja guest house where he and his colleague were being held, after some guards on duty escorted him to a nearby mosque for prayers.
The Federal Government may save an estimated amount of over N5bn every quarter from the new policy banning officials of Ministries, Departments and Agencies from embarking on public-funded foreign trips for three months, according to an analysis of government budget data. The data was collated from the breakdown of funds earmarked for international travels in the 2024 budget by 103 MDAs. President Bola Tinubu had raised concerns about the rising […]
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