Business

Nigerian govt arraigns Binance executive for tax evasion

Published

3 years ago

April 4, 2024

628 Views

Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, has arrived the Federal High Court in Abuja for arraignment over allegations of tax evasion.

He and fleeing Nadeem Anjarwalla are expected to be arraigned today at the court.

In the suit marked FHC/ABJ/CR/115/2024, Binance was accused of failing to register with the Federal Inland Revenue Service, FIRS, for the purpose of paying all relevant taxes administered by the service.

Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, has arrived the Federal High Court in Abuja for arraignment over allegations of tax evasion.

He and fleeing Nadeem Anjarwalla are expected to be arraigned today at the court.

Gambaryan and Nadeem Anjarwalla, Binance’s Regional Manager for Africa, were detained by the Nigerian authorities on February 28.

Although Anjarwalla has escaped from the custody of the Office of the National Security Adviser, ONSA, both executives, alongside Binance, are expected to be charged in court by the Federal Government for tax evasion and money laundering on Thursday.

Wearing a black T-shirt on green pants, Gambaryan was brought into the court at about 9:19 am by officials of the Economic and Financial Crimes Commission, EFCC.

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

13 hours ago

November 5, 2026

OCHEFA

68 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

2 days ago

November 4, 2026

OCHEFA

119 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.