Nigerian court delays Binance tax case to May 12, allows email delivery of documents
On Wednesday, a Nigerian judge, Justice Emeka Nwite, postponed a major tax case against Binance, the world’s largest crypto exchange until May 12, 2025. The judge also allowed Nigeria’s tax agency, the Federal Inland Revenue Service (FIRS), to send court papers to Binance by email.
The FIRS accuses Binance of hurting Nigeria’s economy and weakening the country’s currency, the naira. It wants Binance to pay $79.5 billion for the damage and another $2 billion in unpaid taxes. This case has gained global attention because Binance is a major player in the crypto world, and Nigeria is cracking down hard on crypto platforms.
Binance’s legal fight in Nigeria
The hearing focused on how court documents should be delivered. Binance doesn’t have an office in Nigeria, so its lawyer argued that the FIRS didn’t follow proper steps. But the FIRS said that since Binance operates online in Nigeria and hides its company details, email is a fair way to deliver documents. The judge agreed.
FIRS also said that Binance’s Nigerian lawyers could accept court papers on the company’s behalf. The court seemed open to this idea.
Executives in trouble
The case is part of Nigeria’s tough stance on crypto. In 2024, the government arrested two Binance executives—Tigran Gambaryan and Nadeem Anjarwalla. They were accused of money laundering and tax evasion. Gambaryan, an American and Binance’s financial crime head, is still in custody. Anjarwalla, who is British-Kenyan, escaped from Nigeria in March 2024. Their arrests caused diplomatic problems, with the U.S. and U.K. asking for their release.
Binance responds carefully
Binance hasn’t directly responded to the tax claims or the accusations of damaging the naira. But earlier this year, the company said it was working with Nigerian authorities to solve any past tax issues. Binance also said it tries to follow local laws everywhere it operates.
Why Nigeria is worried about crypto
Nigeria’s currency has lost more than 70% of its value since 2023. Officials blame crypto platforms like Binance for helping people move money out of the country and for encouraging risky trading. In 2021, Nigeria’s central bank told banks to stop dealing with crypto, but the rule hasn’t been strongly enforced.
Biggest case of its kind
This lawsuit is one of the largest ever filed against a crypto company. Experts say it could set a new standard for how countries deal with international crypto platforms. As Binance faces similar legal problems in other places like the U.S. and India, the pressure is growing.
Both Binance and the FIRS didn’t make new comments, saying the case is still ongoing. The situation highlights both Nigeria’s economic troubles and the global debate on how to control cryptocurrency platforms.
