Nigerian Court Delays Binance Tax Evasion Hearing to April 30

The legal standoff between the Nigerian government and Binance, the world’s leading crypto exchange, continues with new developments. On April 7, 2025, a Nigerian court postponed a tax evasion hearing involving Binance to April 30. The delay gives the Federal Inland Revenue Service (FIRS) more time to respond to the exchange’s request. This decision marks a turning point in a tense legal battle. Nigeria has accused Binance of causing serious damage to the national economy.

Binance’s lawyer, Chukwuka Ikwuazom, asked the court to annul the order allowing FIRS to serve legal documents via email. He argued that Binance is a company registered in the Cayman Islands and has no physical presence in Nigeria. Therefore, serving documents outside Nigeria without court permission violates legal procedures. His request prompted the court to postpone the hearing in order to review the validity of the service method.

FIRS first filed the lawsuit in February 2025. The agency claims Binance owes about $2 billion in unpaid taxes from 2022 and 2023. Beyond taxes, FIRS also demands $79.5 billion in compensation for what it describes as economic damage caused by Binance’s operations in Nigeria. FIRS alleges that Binance’s activities have contributed to a sharp devaluation of the naira and financial instability. They claim Binance has a significant economic presence in Nigeria despite lacking an official office and, therefore, must pay corporate income taxes, penalties, and interest.

Beyond tax evasion, Nigeria arrested two senior Binance employees—Tigran Gambaryan and Nadeem Anjarwalla—in early 2024. The charges included tax fraud and money laundering. Under mounting legal pressure and government criticism, Binance stopped supporting naira transactions in March 2024. The move was seen as a complete withdrawal from the Nigerian market. It followed Nigeria’s crackdown on crypto exchanges, which the government blamed for worsening foreign exchange shortages and weakening the national currency.

This legal battle between Binance and Nigeria highlights the complexities of regulating cryptocurrency exchanges in emerging markets. The outcome of this case could set a precedent for how other countries approach similar issues, potentially influencing the global crypto landscape. As the court date approaches, all eyes will be on the Nigerian legal system to see how it navigates this high-stakes dispute.