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Binance and Executives Face Setback in Arraignment Proceedings
Tigran Gambaryan and Nadeem Anjarwalla, two executives of Binance Holdings Limited, were not able to be served with the charges during their Thursday arraignment because the Federal Inland Revenue Service, or FIRS, was unable to do so.
Only Gambaryan had an attorney when the defendants’ plea was called before Justice Emeka Nwite of the Federal High Court in Abuja.
Neither the corporation nor Anjarwalla, who just fled from legal custody, had legal representation, according to the News Agency of Nigeria.
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Chukwuka Ikwuazo, SAN, the attorney for Gambaryan, however, informed the court that since his client had not received the charge, the arraignment could not go forward.
While admitting that the agency had not served Gambaryan with the accusation, FIRS attorney Moses Ideho said that all attempts to do so had failed since the defendant could not be found at the EFCC’s detention center.
The judge then ordered that Gambaryan be served with the charge in the dock after Ideho begged the court to do so in open court.
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As a result, the attorney requested a stand-down or an adjournment so that Gambaryan could speak with his attorney.
Ikwuazo did not protest when the matter was postponed until April 19 so that he could present his case orally.
According to a report , on April 4, the FIRS is set to charge Binance Holdings Limited, Gambaryan, and Anjarwalla, who are allegedly involved in tax evasion.
The three defendants will each be arraigned before Justice Nwite on four counts in the charge designated FHC/ABJ/CR/115/2024.
The accused will be charged with four counts that include possible tax evasion when they are arraigned.
The defendants were accused of committing the offense on or around February 1 in the charge that the FIRS filed on March 22.
Count one claimed that they neglected to register with the FIRS in order to pay all applicable taxes that the service was responsible for handling while they were carrying out and providing services to users on its platform, known as Binance.
According to Sections 8 and 29 of the VAT Act of 1993 (as amended), Section 40 of the FIRS Establishment Act, 2007 (as amended), and Section 94 of the Companies Income Tax Act (as amended), respectively, the offenses are criminal.
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Fubara Will Teach a Political Lesson to Opponents in Rivers – Chief of Staff Ehie
Governor Sim Fubara of Rivers State is going to teach his rivals a political lesson, according to Edison Ehie, the governor’s chief of staff.
Ehie related the state’s crisis to the conflict over resource allocation.
He gave a speech yesterday at a memorial service honoring the governor’s Supreme Court triumph in the state’s Ahoada East Local Government Area.
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As said by Ehie: “We are going to teach them a lesson of political arithmetic.
“What that small boy (Fubara) will do to you, you’ll know that khaki nor be leather.
“The problem we have in the state is that 11 persons said they would control the resources of Rivers State. These 11 persons now called 20 others to allocate resources to themselves.”
Regarding the political resources in the state, Fubara and the Minister of the Federal Capital Territory, or FCT, have been at odds.
President Bola Tinubu intervened, but the cold war between Fubara and Wike continued to rage.
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Gov Uba Sani Promises To Punish Kaduna Conflict Instigators
Kaduna State Governor Uba Sani has promised that his government is going to take swift action against individuals who instigate tension within the state.
During a meeting with the newly elected executives of the Christian Association of Nigeria (CAN) in Kaduna on Saturday, the governor made the announcement.
In addition to praising CAN and Jama’atu Nasril Islam (JNI) for their joint efforts to sustain peace and unity among themselves, he called on religious leaders to actively promote harmony and peace among their people.
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He pointed out his commitment to keeping the promises that he made during his election campaigns, highlighting the significance of Kaduna as the northern Nigerian hub.
He said, “I am committed to supporting clerics by providing vehicles to reach all parts of the state effectively to spread messages of peace and unity.”
The governor was earlier praised by Rev. Celeb Maaji, the newly appointed Kaduna CAN chairman, for his accomplishments in less than a year. Maaji claimed that the governor’s historic participation at a Christmas carol concert last year was the epitome of effective leadership.
The governor’s administration has the backing of the Christian community, the CAN state chairman said, and he should bring back Christian events like the pilgrims board and Bible quiz competition in the state.
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Keep Investigation Activities Confidential And Don’t Inform Customers – EFCC to Banks
The country’s bank compliance officers have received a call from the Economic and Financial Crimes Commission (EFCC) asking them to stop disclosing to their clients about the EFCC’s investigative operations.
This statement was made by the commission’s executive chairman, Ola Olukoyede, in a meeting with bank compliance officers in the capital of Oyo State, Ibadan.
Olukoyede stated that the commission is aware that certain compliance officers are providing information to customers. He made this statement through ACE I Hauwa Garba Ringim, Acting Zonal Director of the EFCC’s Ibadan Zonal Command.
He bemoaned the unhealthy backing that Nigerian banks give scammers.
The head of the commission emphasized that the commission is facing many difficulties and worries as a result of this act.
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He claims that the EFCC is aware that compliance officers inform their clients about “letters of investigation activities” that the EFCC has sent to banks.
He maintained that these kinds of actions typically compromise financial crime investigations and postpone the filing of court proceedings pertaining to corruption.
He bemoaned the unhealthy backing that Nigerian banks give to fraudsters, emphasizing that the Commission is facing significant difficulties and worries as a result.
In order to speed the investigation process and bring the case to a logical conclusion, the head of the EFCC further advised the agency to always reply to letters received from the Commission with certified true copies, including instruments of transactions of beneficiaries or sources.
Speaking further, Olukoyede insisted that illicit transactions and naira-denominated trading with Point-of-sale (POS) operators had to end.
“What we notice and see around lately is that Nigerians can only withdraw a small amount of their money with the banks in Automated Teller Machine (ATMs) but POS operators evidently go around with huge amounts of money gotten from the banks.
“This is not fair to Nigerians and we must fight it head-on.”
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