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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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Nigeria’s annual inflation quickened for an 18th straight month, raising the prospect of another interest-rate increase when the central bank meets next week, Bloomberg News reported. Consumer prices rose 34.2% in June from 34% a month earlier, according to data published on the website of the National Bureau of Statistics on Monday. The median estimate of eight economists in a Bloomberg survey was 34%. The main drivers of the acceleration were higher rental, transport and grain costs.
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A Nigerian court has adjourned a tax evasion case against Binance to next month for possible arraignment of the cryptocurrency exchange and two of its executives after a trial stalled on Wednesday, the judge said, Reuters reported. The matter stalled because authorities failed to bring Tigran Gambaryan, a U.S. citizen and Binance head of financial crime compliance, to court. No reason was given for Gambaryan's absence in court. On Friday, an Abuja court ruled that Gambaryan could stand trial in the tax evasion case on behalf of Binance.
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A Nigerian court on Friday ruled that Binance executive Tigran Gambaryan can stand trial on behalf of the cryptocurrency exchange in an ongoing tax evasion case, Reuters reported. Binance and executives Gambaryan, a U.S. citizen and head of financial crimes compliance, and British-Kenyan national Nadeem Anjarwalla, a regional manager for Africa, face four counts of tax evasion. In a separate case, they have also been charged with laundering more than $35 million and engaging in specialised financial activities without a licence.
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