A Nigerian court has postponed a tax evasion case against global crypto exchange Binance until April 30, allowing time for the country’s tax authority to respond to Binance’s request to nullify an earlier court order permitting the service of legal documents via email.
Binance’s legal counsel, Chukwuka Ikwuazom, argued that the Federal Inland Revenue Service (FIRS) failed to obtain the necessary court approval to serve documents outside Nigeria.
He noted that Binance, registered and based in the Cayman Islands, has no physical presence in Nigeria.
“The order for substituted service granted on February 11, 2025, is improper and should be set aside,” Ikwuazom told the court.
The FIRS has filed a lawsuit demanding that Binance pay $79.5 billion in alleged economic damages and an additional $2 billion in back taxes.
Authorities blame Binance for contributing to Nigeria’s currency instability, and in 2024, two of the company’s executives were detained.
Binance, which has not responded publicly to the latest court developments, previously stated it is working with Nigerian authorities to address potential historical tax liabilities.
According to court filings, the FIRS claims Binance has a “significant economic presence” in Nigeria and is therefore subject to corporate income tax.
The agency is seeking a declaration compelling Binance to pay taxes for 2022 and 2023, along with a 10% annual penalty on unpaid amounts.
