Tag Archives: Nigeria

The U.S. government is quietly pressuring Nigeria to release Tigran Gambaryan, a Binance executive detained in the country since February. Gambaryan has reportedly faced serious health issues while in custody, prompting calls for his release on humanitarian grounds. Humanitarian Concerns According to a New York Times report, two anonymous senior State Department officials revealed that U.S. diplomats have been lobbying Nigerian officials behind the scenes for his release....

Edo State and INTMAX work together to improve digital governance through blockchain technology. The alliance intends to empower government services through cutting-edge technology. The Nigerian Ministry of Digital Economy, Science, and Technology in Edo State has formed a strategic partnership with INTMAX, a leading developer of Ethereum Layer 2 solutions. This alliance aims to accelerate the regional adoption of blockchain technology, indicating a significant step ahead in Nigeria’s digital...

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The leading cryptocurrency exchange, KuCoin, has implemented a 7.5% transaction fee tax on all trades executed on the platform for its Nigerian users. According to an official announcement, KuCoin will start collecting a value-added tax (VAT) of 7.5% on transaction fees from July 8 to align with recent regulatory developments. This update affects all users with their Know Your Customer information registered in Nigeria. KuCoin to Tax Nigerian Users To avoid misunderstandings...

Events in the saga between Nigeria and Binance continue to unfold. This time, the country dropped tax charges against the exchange’s executives. According to a tweet by Nigerian journalist Alexander Onukwue, the Federal Inland Revenue Service (FIRS) of Nigeria has withdrawn the tax evasion charges against Tigran Gambaryan, Binance’s head of financial crime compliance, and Nadeem Anjarwalla, the exchange’s director for Africa operations. Binance Execs Free From Tax Charges In...

A group of U.S. lawmakers has called on President Joe Biden to intervene in the detention of Tigran Gambaryan, a high-ranking executive at Binance, who has been held by Nigerian authorities for nearly three months. The appeal, led by House Foreign Affairs Committee Chair Michael McCaul (R-Texas) and supported by 11 other congressional leaders, demands that the situation be treated as a hostage crisis and that immediate action be taken to secure Gambaryan’s release. U.S....

The Nigerian government has denied the allegations made by Binance’s CEO, Richard Teng, claiming that its officials demanded a $150 million bribe to settle the criminal charges against the crypto exchange. In an official statement released on Wednesday, the Special Assistant to the Minister of Information and National Orientation, Rabiu Ibrahim, dismissed the claims as baseless. A “Diversionary Tactic” Ibrahim stated that the allegations were part of a coordinated effort by...

Binance CEO Richard Teng has advocated for the release of Tigran Gambaryan, head of the crypto exchange’s Financial Crime Compliance team, who has been detained by the Nigerian government for over 70 days. Gambaryan reportedly flew to the country in February for talks on collaborative policy meetings, only to be detained later. This move by the Nigerian authorities has set a dangerous new precedent for all companies worldwide, Teng said in his statement. Arrest of Executives...

Binance executive Tigran Gambaryan remained entangled in a legal battle with Nigeria’s Economic and Financial Crimes Commission (EFCC) with his bail application hearing being postponed yet again. The Federal High Court in Abuja adjourned his case after the EFCC’s lawyer requested more time to respond to new issues Gambaryan’s defense team raised. Gambaryan’s Appeal Adjourned According to a local news report by Nairametrics, the presiding judge, Justice Emeka Nwite, consented...

Binance executive Nadeem Anjarwalla is facing extradition from Kenya following his escape from custody in Nigeria. He was spotted after a manhunt was launched from Nigeria that led the authorities to Kenya, where his whereabouts were discovered. Binance Executive Set to Be Extradited According to a local report, the Nigerian government is working on extraditing Anjarwalla back to Nigeria in collaboration with Interpol and Kenyan authorities. The Binance executive will face...