Nigerian Court Postpones Binance Tax Evasion Case

A Nigerian court adjourned a tax evasion case against Binance, allowing more time for the local tax authority to respond to Binance's request to annul a previous court order. Binance faces allegations of owing $2 billion in back taxes and additional penalties over its operations in Nigeria.

A Nigerian court has postponed the hearing of a tax evasion case against cryptocurrency giant Binance to April 30. This adjournment permits the local tax authority additional time to address Binance's appeal to annul a previous court directive for email-based document service, according to the company's legal representative.

Binance's lawyer, Chukwuka Ikwuazom, contested the court order, arguing that the tax authority did not receive the necessary judicial permission to serve documents to Binance, a company based outside Nigeria in the Cayman Islands and without facilities in Nigeria. Ikwuazom emphasized the inappropriateness of the substituted service order granted on February 11, 2025.

Nigeria's lawsuit against Binance demands $79.5 billion for alleged economic losses caused by Binance's operations and $2 billion in unpaid taxes. Authorities blame Binance for currency disruptions and detained two executives in 2024 amid allegations of tax violations. Despite its absence of registration in Nigeria, Binance claims to be liaising with Nigeria's Federal Inland Revenue Service regarding historical tax issues.

(With inputs from agencies.)