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Court Adjourns trial in Binance, two others alleged tax evasion till April 8

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From Lateef Taiwo

The Abuja Federal High Court sitting in Thursday, adjourned the scheduled arraignment of Binance Holdings Limited and its two top officials, Tigran Gambaryan and Nadeem Anjarwalla, till April 8.

The court had deferred the arraignment of the defendants in the charge marked: FHC/ABJ/CR/115/2024 following the inability of the Economic and Financial Crimes Commission, EFCC, to effect service of the charge against them.

The company is on trail on a four-count tax evasion charge.

At today’s proceedings, counsel to the 2nd defendant, Gambaryan, Mr. Mark Mordi, SAN, raised an objection over the inability of the prosecution to serve Binance Holdings Limited with a copy of the charge as required by law.

The senior lawyer found fault with the move from the anti-graft agency who attempted to hand a copy of the charge meant for the company, to his client.

He contended that his client was neither an agent, director or representative of the company in the country and as such could not be served on behalf of the 1st defendant.

The EFCC on its part, through its lawyer, Mr. Ekele Iheanacho, urged the court to dismiss the objection and proceed with the trial.

EFCC’s lawyer argued that the 2nd defendant is a representative of the company, insisting that it was wrong for him to decline to receive service of the charge on behalf of the 1st defendant.

He, therefore, urged the court to enter a plea of not guilty for the firm.

Justice Emeka Nwite after listening to both parties adjourned the matter for ruling.

Recall that one of the defendants, Anjarwalla, who is the Africa Regional Manager of Binance, had escaped from custody, with the Federal Government initiating the process to arrest and extradite him back to the country for trial.

Alternatively, the Administration of Criminal Justice Act, 2015, permits his trial in absentia.

The anti-graft agency had alleged that Binance, which has many subscribers from Nigeria, operated illegally in the country as it neither registered to conduct businesses in Nigeria nor paid any tax to the Federal Inland Revenue Service, FIRS.

It further alleged that while offering taxable services to subscribers on the trading platform known as Binance, the defendants failed to issue invoices to those subscribers for the purposes of determining and payment of their value added taxes (VATs).

In count three of the charge, EFCC accused the defendants of offering services to subscribers on their trading platform in the buying and selling of cryptocurrencies and in the remittance and transfer of those assets, and having offered those services, was obliged to deduct VATs, and did fail to deduct necessary VATs arising from their operations.

The defendants were also alleged to have while involved in the offering of services to subscribers on their trading platform, did aid and abet those subscribers to unlawfully refuse to pay taxes, or neglect to pay those taxes.

The offences allegedly committed by the defendants are punishable under Sections 8 and 29 of the VAT Act of 1993 (as Amended), Section 40 of the FIRS Establishment Act, 2007 (as amended) and under provisions of Section 94 of the Companies Income Tax Act (as amended) respectively.

Besides, in an affidavit deposed to by Mercy Aliyu, a legal officer with the FIRS’ Litigation and Prosecution Department, the prosecution told the court that investigations that culminated to the charge had substantially been concluded.

“There are reasonable grounds that a prima facie case of tax evasion exists against the accused persons,” the deponent averred.

The court earlier ordered Binance to make available to the EFCC a comprehensive data or information of all persons from Nigeria trading on its platform as well as all its transaction history for the past six months.

The Governor of the Central Bank of Nigeria, CBN, Mr. Olayemi Cardoso had on February 27, disclosed that about $26billion passed through Binance from unidentified sources.

FG said it was investigating the possibility that the platform was used for money laundering and terrorism financing

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Zulum @57: Tribute to a Trailblazing Teacher.

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By: Inuwa Bwala.
I have read a lot of tributes to Borno state Governor, Professor Babagana Umara Zulum on his 57th birthday anniversary.
In most, Nigerians celebrate many things about Professor Babagana Umara Zulum.
To many, his unique leadership style, to others, his developmental strides and yet to others his many ventures into danger zones, the rebuilding of schools, his sleepless nights on duty and many other things.
I want to celebrate something quieter, and maybe more rare: seeing him as the teacher that he is, using
Borno as a big lecture hall, in which he deploys his teaching technique.
I dare say that, Governor Zulum goes to schools unannounced, not for photo shots, but to check attendance, to ask pupils questions, to see if the teacher is teaching. That is a lecturer’s habit.
He commissions hospitals and ask about drug inventory and rosters. That is a supervisor’s habit.
He stands in the rain with displaced families, not to make a speech, but to take notes. That is a researcher’s habit.
Most politicians campaign on promises, but he he is not seeking any position and does not need to campaign. He does things out of passion for true development.
At 57, Zulum reminds me that leadership is not about sitting in the office of power. It’s about sitting on the floor with students, under a tree with farmers, and in the dust with people who have lost everything, and then going back to “prepare the next lesson plan” for Borno redemption.
People often say a leader must choose between the office and the field, the book and the gun, and between the seminar and the street. Governor Zulum seems to have broken that rule by chosing both. And ir is working for Borno.
For me, today, I do not just celebrate a governor turning 57, I celebrate a teacher who took his entire state as his assignment, and refused to submit it half-done.
As the only Governor in Nigeria, who foes not aspire for any other political office after this, he may be retiring into a future only God know about, but one must not fail to state, that, Governor Zulum’s strength lies, not in the paraphenilia of governance but in the dedication of a leader who work, teach to graduate Borno into peace, dignity, and pride.
Happy 57th Birthday, Proffessor Babagana Umara Zulum.

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Stakeholders, Staff Benefit from NDPHC’s Procurement Training Initiative

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The Niger Delta Power Holding Company (NDPHC) has reaffirmed its commitment to transparency, accountability, and efficiency in project delivery by hosting a high-level refresher and sensitization training for its management team, staff, and stakeholders.Organized by the Human Resources Department at the company’s headquarters, the programme was designed to strengthen institutional capacity, refresh knowledge, and promote greater effectiveness in the discharge of responsibilities.The training was anchored on the theme “Operationalizing by Way of Experimenting the Procurement Processes While Navigating the Pre-Bidding Stage Through to Post Bidding”, and facilitated by DEVD Integrated Project Ltd. Discussions focused on procurement processes, emphasizing due process, compliance, and optimization in power sector project execution.Participants were guided through the critical stages of procurement, from pre-bidding to post-bidding, with facilitators stressing the importance of adherence to established procedures. The session also provided a platform for robust engagement on stakeholder collaboration, highlighting how effective partnerships can drive efficiency and accountability in project delivery.The initiative enjoyed strong backing from the NDPHC Executive Management (EXCO), led by Engr. Jennifer Adighije, FNSE, FINEEE, Managing Director/CEO. She was joined by her team: Engr. Bello Babayo Bello, FNSE, FINEEE, Executive Director (Networks); Engr. Abdullahi Kassim, Executive Director (Generation); Hon. Dr. Steven Andzenge, Executive Director (Legal Services); Hon. Chukwuma Umeoji, Executive Director (Corporate Services); Hon. Omololu Agoro, Executive Director (Finance & Accounts); and Hon. Patrick Obahiagbon, Executive Director (Strategy and Commercial). Their collective presence underscored the importance of the training to the company’s strategic vision and operational goals.Facilitators encouraged participants to apply the knowledge gained to improve operational efficiency and foster stronger collaboration across departments and with external stakeholders. They noted that the lessons learned would help strengthen the company’s institutional framework and ensure that projects are delivered in line with global best practices.The event brought together management staff and other relevant stakeholders, creating an opportunity to exchange ideas and refresh their understanding of procurement processes. It also reinforced NDPHC’s commitment to professional development, transparency, and accountability in its operations.By investing in capacity-building programmes such as this, NDPHC continues to demonstrate its resolve to enhance professional standards and institutional effectiveness. The company emphasized that the training reflects its broader vision of building a stronger, more accountable institution capable of delivering sustainable power solutions to Nigeria.The sensitization exercise forms part of NDPHC’s ongoing efforts to ensure that its workforce remains equipped with the skills and knowledge required to meet the demands of the power sector. It underscores the company’s belief that continuous learning and adherence to due process are essential for achieving its corporate objectives and delivering value to stakeholders.

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Hon. Jafaru Yakubu Commends President Tinubu’s Approval of Mutum Biyu–Garba Chede Road Reconstruction

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Hon. Jafaru Yakubu, Member of the House of Representatives and Chairman, House Committee on Nigeria–China Friendship Group, has commended President Bola Ahmed Tinubu GCFR for granting approval for the urgent rehabilitation and total reconstruction of the Mutum Biyu–Garba Chede Road, a 48km stretch in Taraba State.

Yakubu, who sponsored the motion in the House of Representatives calling for immediate intervention on the road, said the President’s approval is a bold and strategic response to the plight of commuters and communities along the corridor. He explained that the motion, which was debated and adopted by the House, underscored the dangers of continued neglect, including accidents, economic disruption, and the risk of total collapse.

He further acknowledged the National Security Adviser (NSA) Mallam Nuhu Ribadu for adopting a non-kinetic approach in addressing the crisis. According to Yakubu, the NSA’s intervention elevated the urgency of the project, treating infrastructure development as a vital instrument of peace, security, and stability. By drawing national attention to the road’s deterioration, the NSA highlighted the grave risks posed to lives, trade, agriculture, and access to healthcare.

The Mutum Biyu–Garba Chede Road, constructed in the early 1980s, has deteriorated severely due to age and lack of maintenance. With the collapse of the Namnai Bridge along the Jalingo–Wukari highway, the road became the sole alternative route for heavy-duty trucks, worsening its condition and exposing communities to untold hardship.

Hon. Yakubu assured his constituents that he will continue to work closely with the Federal Ministry of Works, FERMA, and the North East Development Commission to ensure the project’s swift execution. He emphasized that the House Committee on Works has already been mandated to conduct oversight and report back within four weeks, a step he believes will guarantee transparency and accountability in the delivery of the project.

“As Chairman of the Nigeria–China Friendship Group, I am deeply conscious of the importance of strategic partnerships in advancing national development. This reconstruction is not merely about infrastructure—it is about saving lives, strengthening commerce, and reaffirming government’s duty to serve its people. On behalf of my constituency, I extend profound gratitude to President Bola Ahmed Tinubu GCFR and the NSA for their steadfast commitment,” Yakubu declared.

The approval of this project, following Yakubu’s sponsored motion, is widely seen as a demonstration of leadership that listens and acts decisively. For communities in Mutum Biyu, Garba Chede, and adjoining areas, the reconstruction represents hope for safer travel, renewed economic activity, and restored dignity after years of neglect.

Analysts note that the development is not just about fixing a road but about reconnecting people, boosting agriculture, and reinforcing national cohesion at a time when infrastructure remains central to Nigeria’s growth agenda.

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