Nigerians react amid Binance Executive’s escape

On Monday, March 25, 2024, the Office of the National Security Adviser (ONSA) confirmed the alarming news of Nadeem Anjarwalla, the regional manager for Africa at Binance, escaping custody.

In response to these developments, the Federal Inland Revenue Service (FIRS) in Abuja swiftly took action, initiating legal proceedings against Binance.

The FIRS alleges four instances of tax evasion, as outlined in a statement released on the same day. These accusations have thrust Binance into the spotlight and sparked concerns from Nigerians about its compliance with regulatory requirements.

The FIRS’s legal action against Binance revolves around serious allegations, including the non-remittance of Value Added Tax (VAT) and Company Income Tax (CIT). Additionally, Binance is accused of failing to comply with tax return filing obligations and facilitating tax evasion for its users.

These accusations, if proven true, could have far-reaching implications for Binance’s operations in Nigeria and beyond.

Furthermore, the federal government has levied charges against Binance for its failure to register for tax purposes with the FIRS and its alleged violations of the country’s tax laws.

In the wake of these developments, social media platforms have become abuzz with reactions from Nigerians expressing their opinions on the matter.

The news has sparked widespread debate, with many calling for transparency and accountability from Binance. The allegations of tax evasion have struck a chord with the public, raising concerns about the integrity of cryptocurrency exchanges and the need for stricter regulatory oversight.

What Nigerians are saying

DejiAdesogan

• “Why’re you running when you’re not guilty? Why are you conniving to sabotage national security? Long chain of saboteurs ( involving many ) must be arrested immediately and prosecuted. When Interpol finally arrest the fleeing Binance Executive, he must pay heavily.” https://twitter.com/DejiAdesogan/status/1772259994206880254

FS Yusuf

• “After them run backyard settlement, them come dey tell us say Binance guy escape.”

After them run backyard settlement, them come dey tell us say Binance guy escape.🤣

— FS Yusuf (@FS_Yusuf_) March 25, 2024

Spotlight Abby

National Security Adviser’s office confirms that one of the Binance Executives escaped the country on Friday with a smuggled passport! Nigeria is an unreal place!

National Security Adviser's office confirms that one of the Binance Executives escaped the country on Friday with a smuggled passport!

Nigeria is an unreal place! pic.twitter.com/u1RmtYgYOL

— Spotlight Abby (@Spotlight_Abby) March 25, 2024

Papa Wemba

• “I thought of staying away from this Binance matter but something struck me about this news of their executive escaping from detention… We’ve not heard any official statement from the DSS and the authorities involved in the investigation… I understand that they have been charged to court and they have pleaded guilty to these charges… The main point of my argument is that, of all the charges leveled against them, the Tax evasion matter is the most important one for me”…

I thought of staying away from this Binance matter but something struck me about this news of their executive escaping from detention…

We’ve not heard any official statement from the DSS and the authorities involved in the investigation…

I understand that they have been… pic.twitter.com/8FaWJh8ZYv

— PAPA WEMBA (@lexyy4real) March 25, 2024

Observamoi

• Binance exec escape from Nigeria is a huge embarrassment and can be traced to corruption/bribery and also the airport is too porous

Binance exec escape from Nigeria is a huge embarrassment and can be traced to corruption/bribery and also the airport is too porous

— observa (@observa_moi) March 25, 2024

Opeyemi Babalola

• “Who will now pay the $10bn FG not Tinubu wants to collect from Binance?”

Who will now pay the $10bn FG not Tinubu wants to collect from Binance? pic.twitter.com/iLl3OPHCXp

— Opeyemi Babalola (@BOTAD01) March 25, 2024

Wale Adedayo

• I know all traces of citizens’ trust in the government has been eroded due to past scandals but the question we should all be asking about this particular issue is, why is the Binance executive trying to evade justice by all means? No, I will not focus on how he did it. Because Nigeria is not the first instance where high profiles get to escape when slammed with charges like this. But for the first time that Nigeria is actually moving like a bold nation with billions of dollars in potential fines from a big organization like Binance, one would expect people to question if they are truly guilty of the charges against them. I hope he is brought back to book and if not, the one still in custody should do the trick. Nigeria should go as far as possible to collect that money. Enough damage has been done to our economy.