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Tax evasion: Nigeria drops charges against Binance executives, Tigran Gambaryan and Nadeem Anjarwalla

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The Federal High Court in Abuja, Nigeria has dropped charges against two executives of crypto exchange company, Binance, Tigran Gambaryan and Nadeem Anjarwalla from the FIRS tax evasion case against the company.

This follows the appointment of a Nigerian representative by Binance.

The court made the ruling following an amended charges application filed by the Federal Inland Revenue Service (FIRS) in response to a notice from Binance that it has appointed a Nigerian representative in the case, Ayodele Omotilewa.

At the resumed proceedings today, counsel for Binance, Tonye Krukrubo (SAN) told presiding Justice Emeka Nwite that Binance has forwarded the name of its official representative in the case to the FIRS and the court. Counsel for the FIRS, Moses Idehu, confirmed the notice and asked the court’s permission to substitute all the previous charges with the fresh amended one.

In FIRS’ fresh application, Binance is now listed as the sole defendant in the case, implying Gambaryan and Nadeem are no longer associated with its case.

In the amended charge, Binance was accused of enabling the buying and selling of cryptocurrencies and the remittance and transfer of those assets to Nigerians while failing to deduct the necessary Value Added Taxes (VAT) from the transactions.

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“Binance did aid and abet those subscribers on your trading platform to unlawfully refuse to pay taxes, or neglect to pay those taxes and in so doing committed an offence contrary to and punishable under the provisions of S.94 of the Companies Income Tax Act (as amended)”, the document reads.

The judgement will offer some reprieve to the family of Tigran Gambaryan, who had consistently argued that the US-native executive cannot be held accountable for the actions of the global exchange.

Recall that during the court session last month, Tigran Gambaryan’s lawyer, Mark Mordi SAN contended that his client cannot take his plea because he refused to accept service on behalf of Binance as he is not authorised to do so.

According to him, the Administration of Criminal Justice Act mandates the antigraft agency to ensure that the company (Binance) was served directly. According to him, the company would appoint a representative in writing following that action. Then, notices and processes can be served on Binance or the recognised representative.

“The first defendant (Binance) has no physical footprint in Nigeria and does not have an agent in the country. I urge my lord to discountenance the submission of the EFCC and adjourn so that they can effect service on Binance”, he said.

Tigran Gambaryan, a U.S. citizen and Binance’s head of financial crime compliance was detained alongside Nadeem Anjarwalla, a British-Kenyan who is a regional manager for Africa were charged to court by Nigeria’s tax agency, the Federal Inland Revenue Service (FIRS) on the charges of tax evasion. A few weeks after, Nadeem Anjarwalla reportedly escaped from custody.

A statement from a spokesperson for Tigran’s family also indicates that the wife of the detained American, Mrs Yuki Gambaryan pleaded with the Nigerian government authority to release her husband on the condition that “Tigran is merely an employee“.

“He does not have authority over Binance’s corporate decisions or policies that might have impacted Nigeria. He spends his workday investigating and pursuing criminal activity on the platform. His very job is to help governments, like yours, prosecute and prevent illicit activity“, she said.

Binance vs Nigeria: So much ado about crypto regulation

While Binance CEO, Richard Teng initially claimed that it was working closely with the Nigerian government to resolve the situation, he would later announce that the Nigerian authorities were demanding a hefty bribe from its detained executives to make the money laundering trial initiated against them go away.

In a poignant blog post, Teng projects a strong criticism of the government’s actions, suggesting that detaining Tigran is an unreasonable tactic to pressure Binance. He finds it suspicious that someone seemingly unimportant would be placed in a dangerous prison, implying the true motive might be exerting control over Binance rather than legitimate legal concerns.

In response, the Federal government vehemently debunked the claim and claimed that it would ensure that the law takes its full course.

Yet, the CEO believes that the Nigerian government has extraordinary power to determine the future of Binance and the broader crypto industry within its borders. He insists that inviting a company’s mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide.

He claims that the company understands the importance of cooperation with regulators and law enforcement. And, he said that the company is ready to collaborate with Nigerian authorities “voluntarily”.

“At the end of the day, Binance wants to have a future where we work alongside the Nigerian government to be part of building a strong economy for the Nigerian people. But this crisis must come to a resolution quickly, and Tigran must be allowed to go home if we’re going to move forward”, he said

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Troops rescue Widow of late Major General Rabe Abubakar

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Troops of the Nigerian Army’s 17 Brigade have rescued Mrs. Abubakar, the widow of the late Major General Rabe Abubakar, who was abducted by bandits shortly before the retired senior military officer died in captivity.

According to military sources, the rescue operation was carried out in Tunga Village, where troops encountered the armed bandits holding her captive. During the exchange, the kidnappers reportedly shot Mrs. Abubakar before fleeing as soldiers advanced on their position.

The troops immediately secured the area, rescued her and administered emergency first aid.

Military authorities said Mrs. Abubakar sustained gunshot wounds and was bleeding when she was rescued. She is currently receiving medical treatment.

The rescue comes days after the burial of Major General Rabe Abubakar, whose death while in captivity sparked widespread outrage and renewed concerns over insecurity in parts of the country.

Following Major General Abubakar’s death, the Defense Headquarters’ Joint Task Force North West, under Operation Fansan Yamma, launched a major offensive operation, codenamed Operation Clean Sweep III, targeting terrorists and bandits operating in Matazu Local Government Area and neighbouring communities in Katsina State.

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According to the military, the operation commenced on 14 June 2026 to locate and neutralise those responsible for the attack, dismantling criminal networks, and restoring security across the affected communities.

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Popular Businessman dies in captivity despite ₦5 million ransom payment

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Alhaji Bala Sani Kawo
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Residents of Dandume Local Government Area of Katsina State have been thrown into mourning following the killing of a prominent businessman and farmer, Alhaji Bala Sani Kawo, by suspected bandits despite the payment of a N5 million ransom for his release.

Kawo was reportedly abducted alongside one of his workers on June 11 near Dantakari town in Dandume LGA when armed men intercepted them and whisked them away into a forest.

Sources close to the family disclosed that the kidnappers later contacted relatives of the victim and informed them that he was ill while in captivity. They subsequently demanded N5 million as a condition for his release.

According to the source, the family raised the money and delivered it to the abductors as instructed. However, after receiving the ransom, the criminals reportedly directed family members to a designated location where Kawo’s lifeless body was discovered.

The killing has sparked grief across the community, with residents lamenting the loss of a businessman widely known for his contributions to agriculture and his role in providing employment opportunities for many youths in the area.

The incident comes amid renewed security concerns in Katsina State and follows the recent death of a former Director of Defence Information, Major-General Rabe Abubakar, who reportedly died while being held captive by terrorists.

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In response to rising insecurity in the North-West, troops of the Joint Task Force North West under Operation FANSAN YAMMA have launched a fresh offensive against terrorist and bandit groups operating in parts of Katsina State.

The task force’s Media Information Officer, Lieutenant Colonel Aliyu Danja, said in a statement on Monday that the operation, code-named “Clean Sweep,” commenced on June 14 as part of efforts to dismantle criminal enclaves and restore security in the region.

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Over 50 Bandit Attacks Recorded in a Week as FG Spends N57.78bn on Security

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The Federal Government spent N57.78bn on security-related projects and operations in the first four months of 2026, despite worsening insecurity across the country, with no fewer than 98 criminal incidents including 51 attacks and abductions recorded nationwide in just one week.

Data obtained from the Open Treasury Portal showed that the spending, which covered defence equipment procurement, security infrastructure, military barracks, police facilities and other security-related projects, represented a 127.97 per cent increase from the N25.35bn spent during the corresponding period of 2025.

The expenditure comes amid persistent attacks by terrorists, bandits, kidnappers and armed criminals across several states, raising concerns among security experts over the effectiveness of government efforts to tackle the crisis.

Analysis of the Treasury Portal data showed that N57.78bn had been spent as of April 2026 from a total security allocation of N4.66tn, indicating that only 1.24 per cent of the approved budget had been utilised within the first four months of the year.

The largest share of the expenditure, N21.39bn, was spent on defence equipment procurement, accounting for about 37 per cent of total security spending during the period.

Another N14.16bn was spent on security equipment, while N5.84bn went to the construction and provision of military barracks. The government also spent N5.17bn on police stations and barracks, N3.26bn on rehabilitation of defence equipment, N2.39bn on defence facilities and N2.16bn on repairs of military barracks.

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For routine operations, N3bn was spent on security services, while N320.94m was disbursed as security votes.

However, no expenditure was recorded under the military operations budget line tagged “Operation Lafiya Dole and Other Operations of the Armed Forces,” despite a N500m provision in the 2026 budget.

Similarly, no funds had been released for the kitting of Armed Forces personnel, although N2.53bn was earmarked for the programme.

A year-on-year comparison showed that spending on defence equipment rose from N9.48bn in the first four months of 2025 to N21.39bn in 2026, while military barracks construction increased from zero to N5.84bn.

Despite the increase in spending, budget implementation remained low across most security projects, with many critical programmes recording execution rates below three per cent.

The spending figures emerged as a police security report obtained by The PUNCH revealed that at least 98 criminal incidents were recorded across Nigeria within the last seven days.

The report showed that the incidents comprised 37 homicide cases, 27 banditry attacks, 24 kidnappings, eight armed robbery incidents and two terrorism-related attacks.

The incidents were reported across Kaduna, Katsina, Zamfara, Kebbi and several other states, involving mass abductions, attacks on rural communities and kidnappings along major highways.

Among the most disturbing incidents was the abduction of 39 residents in Zamfara State after they reportedly travelled into the Fadama Forest to negotiate peace with a notorious bandit leader, Jimo Smally.

In Katsina State, bandits blocked the Katsina-Kankara highway and intercepted a commercial vehicle carrying 11 passengers. Police later rescued nine victims, while the driver and another passenger remained missing.

Reacting to the development, security analyst, Lekan Jackson-Ojo, described the situation as the worst insecurity crisis in Nigeria’s history.

“This is the highest level of insecurity in the military and political history of the Federal Republic of Nigeria,” he said.

“It is an indirect pronouncement that Nigeria is an unsafe territory now. We are having a battered economy, and there is no economy anywhere in the world that thrives under insecurity.”

Jackson-Ojo said the country had suffered unprecedented security losses in recent months.

“During the civil war, I did not remember if a general died. In the war between Ukraine and Russia, a general has not lost his life. In the war between Iran, America and Israel, a general has not lost his life. But within the past three months, we have lost almost four generals — and there is no reprisal attack,” he stated.

The analyst also criticised the reintegration of repentant terrorists into society.

“I’ve never heard it anywhere in the world that terrorists who have terrorised, damaged and killed will be integrated back into society. To me, I think the government is totally helpless — total incapability, lack of political will. Something, or many things are wrong now,” he added.

He further lamented what he described as the political elite’s preoccupation with electoral activities rather than security challenges.

“What preoccupies our political class is campaign, campaign, campaign and campaign. This is a sad situation,” he stressed.

Another security analyst, Chidi Omeje, argued that the military remained overstretched despite increased government spending.

“The military, on their own, are completely overstretched. You can count almost over 30 terrorist operations in this country where military guys are deployed,” he said.

“One MRAP alone is almost N100 billion. If you put an aircraft in the sky to do an operation, do you know how much it costs for just one hour? By the time you put that N56 billion in dollars, it amounts to nothing.”

According to him, military operations alone would not solve Nigeria’s security challenges.

“Unless we are able to deal with the root causes, we will keep going in circles. Most of the issues are born out of bad governance, wrong prioritisation, corruption and pervasive poverty, which has made people see crime and criminality as an option for survival,” Omeje said.

He also blamed porous borders and instability across the Sahel region for worsening insecurity in Nigeria.

“From Mali to Burkina Faso to Nigeria — those places are the epicentre of terrorism. Nigeria is an attractive destination because we have porous borders and poor border management,” he stated.

Omeje urged the government to take decisive action.

“The government seems almost clueless about how to go about this matter. They are paid to find solutions — so they must find solutions,” he said.

The latest figures suggest that while the Federal Government has significantly increased security spending compared to last year, insecurity remains widespread, with violent attacks continuing across the country and a large portion of budgeted security funds yet to be utilised. (PUNCH)

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