A Federal High Court in Abuja has postponed the tax evasion case against cryptocurrency exchange Binance until 30 April, granting the country’s tax authority time to respond to Binance’s challenge against serving legal documents by email.
Binance’s lawyer, Chukwuka Ikwuazom SAN, argued the court’s 11 February order for substituted service (via email) was invalid, as Nigeria’s Federal Inland Revenue Service (FIRS) failed to seek court permission to serve a Cayman Islands-registered entity outside Nigeria.
Binance has no physical presence in the country.
Nigeria alleges Binance owes $79.5billion for alleged Economic damages and $2 billion in back taxes.
Authorities claim the platform contributed to Naira instability and detained two executives in 2024 over unlicensed Naira trading.
The FIRS contends Binance has a “significant economic presence” in Nigeria, making it liable for 2022–2023 corporate income tax plus 10% penalties on unpaid sums.
Binance, which denies local registration, stated it is cooperating with the FIRS to resolve historic tax issues but declined further comment.
The adjournment allows the FIRS to formally oppose Binance’s motion to quash the email service order.
