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Nigeria Slams $81.5bn fresh charges against Binance

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The Nigerian government has pressed fresh charges against global cryptocurrency exchange, Binance, demanding $81.5 billion in damages and unpaid taxes.

A breakdown of the figure shows that the government was seeking $79.5 billion for alleged economic losses and $2 billion in unpaid taxes, covering 2022 and 2023. This total $81.5 billion.

In the lawsuit, filed by the Federal Inland Revenue Service (FIRS) at the Federal High Court in Abuja,  Binance’s activities in Nigeria caused significant economic harm to the country.

Binance was also accused of evading taxes on its local earnings.

The case, marked FHC/ABJ/CS/1444/2024, accuses Binance and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, of failing to register with the FIRS for tax compliance and allegedly violating Nigerian financial regulations. This lawsuit marks the third legal action against Binance in Nigeria.

The FIRS and the Economic and Financial Crimes Commission (EFCC) have already charged the company with tax evasion, money laundering, and foreign exchange violations before Justice Emeka Nwite of the Federal High Court in Abuja.

Among the financial penalties in the lawsuit are a 10% penalty for non-payment of taxes for 2022 and 2023, a 26.75% annual interest rate, based on the Central Bank of Nigeria (CBN) lending rate and additional penalties for Binance’s failure to register its business activities in Nigeria.

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Kogi State Mourns Loss of Media Icon Prof. Tom Adaba

Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.

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The Kogi State Government has expressed a huge sense of loss following the demise of Prof. Tom Adaba, a pioneering broadcast expert, patriot, and distinguished son of Kogi.

Prof. Adaba, who passed away at the age of 83, was celebrated for his trailblazing contributions to Nigeria’s media landscape.

Prof. Adaba’s legacy is marked by groundbreaking achievements.

He was one of the first Nigerians to earn a Doctorate in Mass Communication, setting a high standard for academic excellence in the field.

His visionary leadership was evident during his tenure as the Principal of the Nigerian Television College, Jos, and as the inaugural Director General of the National Broadcasting Commission.

His work not only transformed the media industry but also laid a strong foundation for ethical journalism and responsible broadcasting across the nation.

In an official condolence message signed by the State Information Commissioner, Mr Kingsley Fanwo, the Kogi State Government described Prof. Adaba as “a media colossus, patriot, and a distinguished Nigerian” whose wisdom and dedication left an indelible mark on the country.

The government extended heartfelt condolences to his family, friends, and the entire media community, urging that his legacy be remembered as a beacon of inspiration.

The statement reads: “We have lost a great media pioneer whose life-long contributions to Nigeria’s broadcasting industry will forever be cherished. May the Almighty God grant him eternal rest and give his loved ones the strength to bear this irreparable loss.”

Prof. Adaba’s passing is not only a significant loss to Kogi State but also to Nigeria as a whole.

His illustrious career and unwavering patriotism will continue to inspire future generations in the realms of media and beyond.

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BREAKING: Police Have Sealed Our Hqrs – Osun Electoral Commission Boss Raises Alarm

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The Chairman of the Osun State Independent Electoral Commission (OSSIEC), Hashim Abioye, has raised alarm over the sealing of the commission’s headquarters by the police.

The incident on Saturday occurred as the commission proceeded with the controversial local government elections taking place across the state.

Speaking during a live current affairs program on Rave FM, Abioye said he is surprised that such a step could be taken.

He said, “I leave the police IGP in the hands of God.

“Election has started earnestly in all the polling units across the state but no police presence is noticeable from the information available to me.”

Meanwhile, Governor Ademola Adeleke participated in the exercise, casting his vote at a polling station in Ede.

After voting, the governor called on residents to remain calm and peaceful throughout the exercise.

The sealing of the OSSIEC headquarters comes after the Nigeria Police had earlier advised the Osun State Government not to proceed with the election.

Citing security risks and potential legal implications, the police had warned that holding the poll under the current circumstances could lead to unrest.

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Osun election underway despite AGF’s advice, Governor Adeleke votes in polling unit

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Governor Ademola Adeleke of Osun State has cast his ballots at Unit 9, Ward 2, in Ede North Local Government Area as the contentious poll begins across the state.

The governor cast his vote as early as 8 a.m. on Saturday morning amid tension over possible unrest.

The election is currently being held as scheduled despite advice from the Attorney General of the Federation, Lateef Fagbemi.

The Nigeria Police Force had also called for the suspension of the exercise, stating that unrest was likely to unfold following disagreements between political parties.

The Labour Party had also announced its decision to back out of the exercise, saying the security of its agents was not guaranteed.

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