The Nigerian government has said the turnover of Binance, a cryptocurrency platform, surpassed $20 billion from activities in Nigeria, yet the firm paid zero tax to the country.
The Minister of Information and Orientation, Mohammed Idris disclosed this in a statement on Wednesday while reacting to the allegation that two Binance executives Tigran Gambaryan and Nadeem Anjarwalla were illegally held in custody in Nigeria. The Minister clarified that the two executives, although one is currently at large, were held for fueling currency speculation and operating non-registered business activities in Nigeria.
“In addition, it is not registered in Nigeria and neither has it ever paid any taxes within the Nigerian jurisdiction, having all the while operated without oversight or any of the normal guard rails to flag criminal activity', he said. Recall that on February 28, Gambaryan and Anjarwalla were arrested by the Nigerian government on the allegation of currency speculation. Anjarwalla was confirmed to have escaped custody in March.
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