NIGERIA GOVT SUE BINANCE
Nigeria’s Federal Inland Revenue Service (FIRS) has indeed filed a lawsuit against Binance, seeking ₦79.5 trillion ($81.5 billion) in damages and additional ₦2.5 trillion ($2.5 billion) in back taxes.
Court Proceedings: The Federal High Court in Abuja has adjourned the matter to May 12, 2025 due to issues with legally serving Binance.
Government Concerns: Nigerian authorities allege Binance contributed to the devaluation of their currency (naira ) and economic instability by enabling unregulated currency exchange on its platform.
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