Nigerian Court Adjourns Binance Tax Case to End of April: Report – Decrypt

A court in Abuja has adjourned Nigeria’s ongoing tax evasion case against Binance to April 30, according to a report from Reuters.

The adjournment follows legal challenges from Binance contesting a February court order that allowed Nigeria’s Federal Inland Revenue Service (FIRS) to serve legal documents via email.

The company, which is incorporated in the Cayman Islands, has argued the FIRS did not obtain proper authorization to serve papers outside the country. Binance has no physical office in Nigeria.

The Nigerian government is demanding $2 billion in back taxes and $79.5 billion in damages, alleging Binance’s activities caused significant economic harm and contributed to the devaluation of the Naira. 

Authorities claim the platform maintains a “significant economic presence” in Nigeria and should be taxed accordingly.

Officials have accused Binance of facilitating capital flight through its peer-to-peer (P2P) trading platform, particularly during periods of heightened currency volatility. 

The case is part of a broader crackdown on crypto trading in Nigeria.

The dispute previously led to the detention of two Binance executives last year. Tigran Gambaryan, a U.S. citizen, was held in Nigeria from February to October 2024. 

He was released after the country’s anti-corruption agency dropped charges, allowing him to seek medical treatment abroad for back problems allegedly worsened by his detention. 

Gambaryan has since claimed his detention was tied to Binance’s refusal to pay a $150 million bribe to Nigerian officials. Nigeria has denied Binance’s version of events.

Nadeem Anjarwalla, a British-Kenyan dual national, was arrested alongside Gambaryan but later escaped custody while under house arrest and fled the country using a second passport. 

He remains wanted by local authorities.

Edited by Sebastian Sinclair