In a recent development reported by COINOTAG News on April 8th, a Nigerian court has delayed the highly publicized Binance tax case to April 30th. Binance’s attorney, Chukwuazom, has requested the court to nullify a prior e-service order, contending that the Nigerian tax authority transmitted legal documents to the company, which is incorporated in the Cayman Islands, without proper judicial approval.
On February 20th, Nigerian authorities initiated a lawsuit against Binance, pursuing $79.5 billion in claimed economic damages and an additional $2 billion regarding alleged unpaid taxes. The Federal Inland Revenue Service (FIRS) of Nigeria accuses Binance of conducting operations unlawfully within its borders. This legal action follows accusations of tax evasion thrust against Binance in March 2024, citing four tax violations, which include failure to remit corporate income tax and neglecting to file necessary tax returns. Notably, Binance’s executives, Tigran Gambaryan and Nadeem Anjarwalla, have already been apprehended in Nigeria and are among the defendants in this unfolding case.