UAE Legal NewsA storm is still gathering over Binance in Nigeria, but the legal thundercloud has paused—again.
A court in Abuja has postponed a high-stakes tax evasion case against the global crypto exchange to April 30, following Binance’s pushback against how the case is being served. The delay, it turns out, is about more than just tax bills—it’s about technicalities that cut to the heart of jurisdiction.
Binance, which doesn’t have a single brick laid in Nigeria, is contesting a court order that allowed the Federal Inland Revenue Service (FIRS) to serve legal papers via email. Representing the exchange, lawyer Chukwuka Ikwuazom argued the move was procedurally flawed since the FIRS skipped a crucial step—securing the court’s permission to serve documents outside national borders.
“The order for substituted service on Binance, a Cayman Islands entity, is improper and ought to be set aside,” Ikwuazom told the court.
At the heart of the legal clash is a staggering claim by Nigerian authorities: that Binance’s operations inflicted $79.5 billion in economic losses and left behind $2 billion in unpaid taxes. Binance, they allege, became a shadow marketplace for naira trading, fueling currency instability and prompting a major crackdown in 2024 that included the detention of two executives.
The tax body insists Binance maintained a “significant economic presence” in the country, and is demanding corporate taxes for 2022 and 2023, plus a punishing 10% penalty on any unpaid sum.
Binance, tight-lipped in the courtroom, hasn’t issued fresh public comment—but has said in the past it’s working with FIRS to untangle its historical tax obligations.
Until April 30, the case is paused—but the fight is far from over.
