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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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Okonjo-Iweala Says Nigerian Economy now stable under Tinubu

“The reforms have been in the right direction. The next step is growth, and alongside that, building social safety nets so those feeling the pinch of reforms can get support.”

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THE Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, declared that President Bola Tinubu and his team have worked hard to stabilize the economy.

“You cannot really improve an economy unless it’s stable,” said Okonjo-Iweala during a meeting today with President Tinubu at the Presidential Villa, Abuja.

“The reforms have been in the right direction. The next step is growth, and alongside that, building social safety nets so those feeling the pinch of reforms can get support,” she said.

She added that growth, job creation, and income expansion must go hand-in-hand with measures to cushion the impact of ongoing reforms on vulnerable Nigerians.

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Tragedy in Imo: Son Fatally Stabs Father Over Land Sale Dispute

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A tragic incident has rocked the community of Amaifeke in Orlu Local Government Area of Imo State, where a 39-year-old man, Ifeanyi Odinka, allegedly stabbed his 75-year-old father, Dennis Odinka, to death following a dispute over proceeds from a land sale.

Confirming the incident, the Imo State Police Command said Ifeanyi was arrested by operatives from the Orlu Division on August 12, 2025. According to police spokesperson ASP Henry Okoye, the suspect confessed to the crime during interrogation.

“He was immediately transferred to the State Criminal Investigation Department in Owerri for further investigation and prosecution,” Okoye stated.

The gruesome killing has left residents in shock, with community members describing the incident as deeply disturbing and calling for justice to take its course.

The police have assured the public that the suspect will face the full weight of the law. They also reiterated their commitment to maintaining law and order across the state, urging residents to report any suspicious activity to the authorities.

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Obasanjo’s Library Ready to Face EFCC in Court over Invasion

The Managing Director of the OOPL, Mr Vitalis Ortese, at a press conference in Abeokuta, said that the Anti – graft commission invasion was an assault on all what the presidential library stood for.

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The management of Olusegun Obasanjo Presidential Library (OOPL) has given the Economic and Financial Crime Commission, EFCC a seven-day ultimatum to apologize of face legal action.

The Managing Director of the OOPL, Mr Vitalis Ortese, at a press conference in Abeokuta, said that the Anti – graft commission invasion was an assault on all what the presidential library stood for.

He demanded for a N3.5 billion compensation for the victims and the presidential library where the former president, Olusegun Obasanjo resides.

The legal Adviser of OOPL, Olumide Ayeni while showing the media evidence, including bullet shells and EFCC beret, said the presidential library is ready to face the anti graft in court, if it fails to yield to their demands.

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