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Jonbinh
@999eth
Nigeria sued Binance for 81.5 billion USD, accusing it of causing a decline in the value of the local currency The Nigerian government has sued Binance, the world's largest cryptocurrency exchange by trading volume, for a total of $81.5 billion. Of which, 2 billion USD is tax arrears, while 79 billion USD is said to be economic damage due to Binance's alleged contribution to devaluing the Naira. According to Reuters, the Nigerian Federal Revenue Service (FIRS) confirmed that Binance has a "significant economic presence" in Nigeria but has not fulfilled its tax obligations for the years 2022 and 2023. The agency also asked Binance to pay 26.75% interest on the outstanding tax amount and continued to accuse the platform of putting negative pressure on the naira exchange rate in the foreign exchange market.
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