Nigerian Court Adjourns Binance Tax Evasion Trial to April 30
A Nigerian court has postponed the highly watched tax evasion case involving global cryptocurrency exchange Binance until April 30, 2025. The adjournment was granted to allow the Federal Inland Revenue Service (FIRS) sufficient time to respond to a motion filed by Binance seeking to dismiss a prior court order.
The case centers around allegations that Binance evaded taxes amounting to $2 billion, and authorities claim the exchange's operations caused significant economic damage to the Nigerian economy. The FIRS has accused Binance of failing to comply with local tax regulations and conducting unlicensed operations that bypassed key financial reporting requirements.
Binance, in its defense, maintains that it has operated in good faith and is actively working with Nigerian regulators to resolve the matter. The platform’s legal team has argued that the initial order against it lacked sufficient legal basis and is seeking its annulment.
This case marks a critical moment in Nigeria’s evolving approach to digital assets regulation, with broader implications for how crypto firms operate in the region going forward. The court’s decision on April 30 could set a precedent for future regulatory enforcement in Africa's largest economy.
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