Latest news with #CamillusEboh
Yahoo
27-05-2025
- General
- Yahoo
At least 42 killed in weekend attacks in Nigeria's Benue state, local official says
By Camillus Eboh ABUJA (Reuters) -At least 42 people were shot dead by suspected herders in a series of weekend attacks across Gwer West district in Nigeria's central Benue state, a local official said on Tuesday. Thirty-two bodies were recovered from Sunday's assaults on the Ahume and Aondona villages, while 10 more were killed in a separate attack on the villages of Tyolaha and Tse-Ubiam on Saturday, said Victor Omnin, chairman of the Gwer West local government. "It's a pathetic situation. As we speak, we are still recovering corpses," Omnin told journalists. Benue is in Nigeria's Middle Belt, a region where the majority Muslim North meets the largely Christian South. The region faces competition over land use, with conflicts between herders, who seek grazing land for their cattle, and farmers, who need arable land for cultivation. These tensions are often worsened by overlapping ethnic and religious divisions. Benue Governor Hyacinth Iormem Alia's office said a Catholic priest was also shot in the area by the assailants, and is in critical but stable condition.
Yahoo
30-04-2025
- Business
- Yahoo
Nigerian judge adjourns Binance tax evasion case to May 12
By Camillus Eboh ABUJA (Reuters) -A Nigerian judge on Wednesday adjourned a tax evasion case against the world's largest crypto exchange until next month after the revenue service asked for permission to serve court documents by email to Binance. Earlier this month, the presiding court adjourned the Binance case to allow the local tax authority to respond to a request by the cryptocurrency exchange to annul an order for court documents to be served on it by email. The judge adjourned the hearing to May 12, according to the court. Nigeria's Federal Inland Revenue Service filed a lawsuit seeking to compel Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country, plus $2 billion in back taxes, according to court documents. Authorities blame Binance for Nigeria's currency instability, and detained two of its executives in 2024 after cryptocurrency websites emerged as platforms of choice for trading the local naira currency. Binance has not responded to requests for comment on the allegations of tax evasion and destabilising the naira. It has previously said it is working with Nigeria's Federal Inland Revenue Service to resolve potential historic tax liabilities. On Wednesday, the revenue service (FIRS) asked the court to dismiss Binance's objection to being served court summons by email because it is registered offshore. FIRS lawyer Kanu Agabi told the court that Binance's lawyers in Nigeria could also be served court summons on behalf of the company, arguing that Binance's registration was unknown and "shrouded in secrecy". Binance does not have a physical office in Nigeria. But Agabi said Binance had a significant economic presence and operated an online platform dealing in crypto and virtual currency transactions globally, including in Nigeria. Binance lawyer Chukwuka Ikwuazom asked the court earlier in April to set aside an order for the tax authority to serve court documents on Binance outside Nigeria because the FIRS did not obtain a leave from court before doing so. (Writing by Chijioke Ohuocha; editing by Mark Heinrich) Sign in to access your portfolio
The Star
25-04-2025
- Business
- The Star
Nigerian tribunal upholds $220 million fine against Meta for violating consumer, data laws
Meta logo is seen in this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration ABUJA (Reuters) -A $220 million fine against Meta Platforms by Nigeria's competition watchdog for violating local consumer, data protection and privacy laws has been upheld following an unsuccessful appeal, Nigeria's Competition and Consumer Protection Tribunal said on Friday. Nigeria's Federal Competition and Consumer Protection Commission (FCCPC) fined Meta last July for discriminatory and exploitative practices against Nigerian consumers, compared with other jurisdictions with similar regulations. (Reporting by Camillus Eboh; Writing by Elisha Bala-Gbogbo)
Yahoo
25-04-2025
- Business
- Yahoo
Nigerian tribunal upholds $220 million fine against Meta for violating consumer, data laws
By Camillus Eboh ABUJA (Reuters) -A $220 million fine against Meta Platforms by Nigeria's competition watchdog for violating local consumer, data protection and privacy laws has been upheld following an unsuccessful appeal, Nigeria's Competition and Consumer Protection Tribunal said on Friday. Nigeria's Federal Competition and Consumer Protection Commission (FCCPC) fined Meta last July for discriminatory and exploitative practices against Nigerian consumers, compared with other jurisdictions with similar regulations.
Yahoo
07-04-2025
- Business
- Yahoo
Nigerian court adjourns Binance, executives' tax evasion trial to April 30
By Camillus Eboh ABUJA (Reuters) - A Nigerian court has adjourned a tax evasion case against Binance to April 30 to allow the local tax authority to respond to a request by the cryptocurrency exchange to annul an order for court documents to be served on it by email, a lawyer for Binance said on Monday. The lawyer, Chukwuka Ikwuazom, asked the court to set aside the order because the tax authority did not obtain a leave from the court to serve court documents on Binance outside Nigeria. Binance does not have a physical office in Nigeria. "On the whole the order for the substituted service as granted by the court on February 11, 2025 on Binance who is ... registered under the laws of Cayman Islands and resident in Cayman Islands is improper and should be set aside," Ikwuazom said. Nigeria has filed a lawsuit seeking to compel Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back taxes, according to court documents. Authorities blame Binance, the world's largest crypto exchange, for Nigeria's currency instability and detained two of its executives in 2024 after cryptocurrency websites emerged as platforms of choice for trading the local naira currency. Binance, which is not registered in Nigeria, did not immediately respond to a request for comment. It has previously said it is working with Nigeria's Federal Inland Revenue Service to resolve potential historic tax liabilities. The inland revenue service alleges in documents seen by Reuters that Binance has a "significant economic presence" in Nigeria and is therefore liable for corporate income tax. It is seeking a court declaration that Binance pay income taxes for 2022 and 2023, plus a 10% annual penalty on unpaid amounts.
