Nigeria Delays Trial Case Against Binance

A Nigerian court has postponed a tax evasion case against Binance to April 30, allowing the country’s tax authority time to address a legal request from the exchange, according to the company’s legal counsel.

Reuters reported that the Federal Inland Revenue Service (FIRS) is seeking $2 billion in back taxes and $79.5 billion in damages for alleged economic losses due to Binance’s activities in Nigeria.

The agency asserts that Binance has a “significant economic presence” in the country, necessitating corporate income tax payments for 2022 and 2023, along with a 10% annual penalty on unpaid amounts.

The case has been delayed following Binance’s application to annul a previous court order that allowed documents to be served by email. Binance’s lawyer, Chukwuka Ikwuazom, argued that the service was invalid as FIRS did not obtain judicial permission to serve legal papers outside Nigeria.