NEWS
BIZARRE: Detained Binance Executive Sneaks Out Of Nigerian Custody
One of the two Binance Executives, Nadeem Anjarwalla, detained in Nigeria over allegations of tax evasion and other financial crimes, has slipped through the arms lawful custody.
It was gathered that sneaked out of custody, on Friday, 22 March, 2024, about 24 hours after the Federal Government formally pressed a four-count charge on him, his colleague, Tigran Gambaryan and Binance.
Biztellers reports that Anjarwalla, aged 38 is a Briton, who also holds Kenyan citizenship, escaped on from the Abuja guest house where he and his colleague were detained by tricking guards on duty to grant him access to a nearby mosque for prayers in the spirit of the ongoing Ramadan fast.
Unconfirmed reports allege that he has sneaked out of Nigeria through a Middle East airliner.
His leaving the shores of Nigeria adds to the shrouded circumstances because his British passport, with which he entered Nigeria, is still in the custody of the Nigerian authorities.
However, the powers that be in Nigeria are said to be working to unravel his intended destination in a bid to get him back into custody.
An Immigration official, the Premium Times reports, said the Binance executive fled Nigeria on a Kenyan passport.
He, however, said authorities were trying to determine how he obtained the passport, given that he had no other travel document (apart from the British passport) on him when he was taken into custody.
Another source said the two officials were held at a “comfortable guest house” and allowed many rights, including the use of telephones, a privilege Anjarwalla might have exploited to plot an escape.
As at Sunday night, the Head of Strategic Communication at the Office of the National Security Adviser, Zakari Mijinyawa, said he would enquire and revert on the bizarre incident.
Recall that Anjarwalla, Binance’s Africa regional manager, and Tigran Gambaryan, a US citizen overseeing financial crime compliance at the crypto exchange platform, were detained upon their arrival in Nigeria on 26 February 2024.
A criminal charge was filed against the two executives before a Magistrate Court in Abuja. On 28 February 2024, the court granted the Economic and Financial Crimes Commission (EFCC) an order to remand the duo for 14 days.
The court also ordered Binance to provide the Nigerian government with the data/information of Nigerians trading on its platform.
Following Binance’s refusal to comply with the order, the court extended the remand of the officials for an additional 14 days to prevent them from tampering with evidence.
The court then adjourned the case till 4 April 2024.
Also on 22 March, the Nigerian government approached the Federal High Court in Abuja and slammed another four-count charge on Binance Holdings Limited, Anjarwalla and Gambaryan, accusing them of offering services to subscribers on their platform while failing to register with the Federal Inland Revenue Service (FIRS) to pay all relevant taxes administered by the Service and in so doing, committed an offence, contrary to and punishable under Section 8 of the Value Added Tax Act of 1993 (as Amended).
The defendants were also accused of offering taxable services to subscribers on their trading platform while failing to issue invoices to those subscribers to determine and pay their value-added taxes and, in so doing, committed an offence contrary to and punishable under S.29 of the Value Added Tax Act of 1993 (as amended).
Count Three of the charges accused the three defendants of offering services to subscribers on their Binance trading platform for the buying and selling of cryptocurrencies and the remittance and transfer of those assets while failing to deduct the necessary Value Added Taxes arising from their operations and thereby committing an offence contrary to and punishable under Section 40 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).
The last count of the charges wants the defendants punished for allegedly aiding and abetting subscribers on their Binance trading platform to unlawfully refuse to pay taxes or neglect to pay those taxes and, in so doing, committing an offence contrary to and punishable under the provisions of S.94 of the Companies Income Tax Act (as amended).
The Federal government had, in the past three months, been cracking down on suspected money launderers and terrorism financiers, some of whom it alleged are using the Binance platform for criminal activities
According to the FG over $21.6 billion was traded by Nigerians whose identities were concealed by Binance.
The government also claimed its investigations revealed that unscrupulous elements were using Binance for money laundering, terrorist financing, currency speculation and market manipulation, distorting the Nigerian economy and weakening the Naira against other currencies.
The detention of Binance officials in Nigeria began months after the crypto exchange platform pleaded guilty and agreed to pay $4.3 billion to settle criminal money laundering charges levied by the US Department of Justice.
Recall that Binance founder and CEO Changpeng Zhao, also known as CZ, pleaded guilty and agreed to resign.
His criminal trial has been postponed to 30 April by a US court.
A tank farm in the Apapa area of Lagos State went up in flames in the early hours of Friday.
A viral video of the sad incident, now making the rounds on social media platforms indicates that it is the property of the Nigerian National Petroleum Company Limited (NNPC Ltd).
The video was being traced to the Lagos State Fire and Rescue Service (LSFRS).
However, the NNPC Ltd has denied that none of its facilities in the location was affected, it posited that the fire incident, from a pipeline, affected a farm tank belonging to Honeywell Oil and Gas.
Director, Public Affairs, LSFRS, Amodu Shakiru, has confirmed the incident, and that firefighting operations were ongoing as at the time of going to press.
Shakira said, “Yes, we just received a call from that area and the call came in at 11:27am.
“The Lagos State Fire and Rescue Service is attending to a fire outbreak at the new NNPC Terminal, formerly OVH, Kayode Street, Marine Beach, Apapa.
“The fire resulted from a spillage of petroleum products within the perimeter of the tank farm”.
In the same vein, Director and Chief Executive Officer, LSFRS, Margaret Adeseye, said concerted efforts with various emergency responders within the oil and gas industry were being made to contain the situation.
“The public is hereby assured that the emergency operations are under control from escalating further,” Adeseye stated.
However, the Punch cited Spokesperson, NNPC Ltd, Olufemi Soneye, as saying that the fire was not from the company’s depot but from HOGL.
“It is not at the NNPC, but at HOGL. The fire is at a pipeline at HOGL. The fire has since been extinguished. It’s at the Honeywell depot but it has now been extinguished. Not NNPC,” Soneye said.
The Chancellor of Osun State University and Executive Vice Chairman of Famfa Oil Limited, Folorunso Alakija has described Governor Ademola Adeleke as “an action Governor who is delivering good governance to the good people of Osun state”.
She bared her mind, while hosting Gov Adeleke at the Ikoyi headquarters of Famfa Oil Limited.
According to her, she she has been following activities of Gov Adeleke since he assumed office, and commended him for setting a good leadership example.
The billionaire businesswoman on the occasion flanked by two of her directors, Ladi and Folarin Alakija, noted that the Osun State Governor has been demonstrating strong passion for public service and pursuing a big agenda for the state.
She prayed to God Almighty to strengthen the Governor for a second term in office, as in her opinion, four years were not enough for an action governor like Gov Adeleke to deliver fully on his ambitious agenda for the state.
Reviewing her tenure as the Chancellor of the Osun State University, the Famfa boss recalled the conception and stages of completion of the UNIOSUN Medical Research and Training Hospital which she wholly donated and financed.
She pointed out that the project which is 95 percent completed was designed to serve the health needs of patients from far and near and elevate service to humanity to a higher level.
Earlier, Governor Adeleke, accompanied by the Vice Chancellor of the Osun State University, Prof Odunayo Clement Adebooye and other state officials, said he was ‘on a thank you visit to the business mogul to appreciate her huge contributions to the growth and development of the state university’.
Gov Adeleke expressed appreciation for the massive multi-billion naira Medical Research and Training hospital that Apostle Dr Alakija was building at the State university, describing Famfa boss as “a commendable role model in the field of philanthropy.
“We are here as a government to appreciate you. You are uncommon and rare in your love for service to humanity.”
The Federal Government of Nigeria (FGN) has announced that the portal for student loan applications will officially open on May 24, 2024.
This development is part of the Nigerian Education Loan Fund’s efforts to enhance access to higher education, as stated by the Fund’s media lead, Nasir Ayantogo, on Thursday night.
According to Ayantogo, the launch of the application portal is a significant step in President Bola Tinubu’s commitment to providing accessible and inclusive education for Nigerian students.
This initiative follows the signing of the Access to Higher Education Act, 2023, by President Tinubu on June 12, 2023 which aims to provide interest-free loans to financially disadvantaged students pursuing higher education in Nigeria.
Dele Alake, a member of the former Presidential Strategy Team, noted that this move fulfills one of President Tinubu’s key campaign promises to liberalize funding for education.
The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund to handle all loan requests, grants, disbursements, and recoveries.
Initially, the government announced that the scheme would launch in September, but it faced several delays, resulting in an indefinite postponement in early March.
The Presidency attributed the delay to President Tinubu’s directive to expand the scheme to include loans for vocational skills.
Following a briefing from the NELFUND team led by the Minister of State for Education, Dr. Yusuf Sununu, on January 22, President Tinubu instructed the Fund to extend interest-free loans to Nigerian students interested in skill-development programs.
President Tinubu stressed the importance of including those who may not seek university education, noting that skill acquisition is equally as important as earning academic degrees.
He had said, “This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas.
“This is not only for those who want to be doctors, lawyers, and accountants. It is also for those who aspire to use their skilled and trained hands to build our nation.
“In accordance with this, I have instructed NELFUND to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education,”
Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.
According to the statement, the portal features a user-friendly interface, allowing students to conveniently submit their loan applications.
The statement added, “We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation. Students can access the portal on www.nelf.gov.ng to begin application.”
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