Nigeria Delays Binance Tax Evasion Case Amid Email Dispute

A Nigerian court has postponed the tax evasion case against Binance until April 30th. This delay allows Nigeria’s Federal Inland Revenue Service (FIRS) to respond to Binance’s legal filings, as the exchange claims it wasn’t properly notified for the legal documents being sent by email. 20 billion dollars in unpaid taxes are at the heart of this case. The FIRS is demanding not just $2 billion in unpaid taxes but also $79.5 billion in damages, claiming Binance’s operations in Nigeria caused economic harm. 2024 has seen stricter regulations and investigations into crypto platforms, including Binance. The company was detained in early 2024 for alleged naira-based crypto trades and for contributing to currency market disruption. The Nigerian Central Bank also demanded data on Binance users in 2024, resulting in the closure of Binance’s peer-to-peer (P2P) trading platform in Nigeria in February. The April 30th hearing focuses on Binance’s legal challenge against the FIRS’s use of email for service of legal documents.