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Nigeria’s legal battle with crypto exchange giant Binance has hit another pause, as a federal court adjourned the high-profile tax evasion case to April 30.
The case, brought forward by Nigeria’s Federal Inland Revenue Service (FIRS), alleges that Binance failed to register for tax purposes and neglected to collect value-added tax (VAT) and other necessary levies on transactions carried out within the country. The accusations add another layer to the mounting regulatory pressure Binance is facing globally.
At the heart of the matter is Binance’s alleged non-compliance with local tax laws, despite operating in Nigeria’s booming crypto market. The FIRS claims that Binance’s services facilitated trading without proper oversight, potentially costing the Nigerian government millions in uncollected revenue.
The court session on Monday, April 8, was brief, with the presiding judge granting an adjournment to allow more time for both sides to prepare. Legal representatives for Binance have yet to publicly respond to the charges but are reportedly engaging with authorities behind closed doors.
This delay comes amid heightened scrutiny of Binance in Nigeria. Just last month, the Nigerian government detained two Binance executives as part of a broader investigation into the company’s operations, raising concerns among crypto investors and drawing international attention.
As the next hearing approaches, all eyes will remain on how Nigeria handles this landmark case — one that could have ripple effects across Africa’s fast-growing digital asset landscape.
