{"id":10823,"date":"2025-04-08T10:50:42","date_gmt":"2025-04-08T08:50:42","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=10823"},"modified":"2025-04-08T10:50:42","modified_gmt":"2025-04-08T08:50:42","slug":"nigerian-court-delays-binance-tax-evasion-hearing-to-late-april-latest-update","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/04\/08\/nigerian-court-delays-binance-tax-evasion-hearing-to-late-april-latest-update\/","title":{"rendered":"Nigerian Court Delays Binance Tax Evasion Hearing to Late April: Latest Update"},"content":{"rendered":"

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A court in Nigeria has allegedly postponed the nation’s tax evasion lawsuit against Binance until April 30, providing time for Nigeria\u2019s tax agency to address a request from the cryptocurrency exchange.<\/p>\n

According to Reuters<\/a> on April 7, a legal representative of Binance, Chukwuka Ikwuazom, sought on the same day for a court to annul an order permitting court documents to be delivered to the company via email.<\/p>\n

Since Binance lacks an office in Nigeria, Ikwuazom asserted that the Federal Inland Revenue Service (FIRS) did not obtain judicial approval to serve documents to Binance abroad.<\/p>\n

“Overall, the directive for the substituted service as granted by the court on February 11, 2025, regarding Binance, which is … registered under the laws of Cayman Islands and situated in Cayman Islands, is inappropriate and ought to be annulled,” he remarked.<\/p>\n

The FIRS initiated legal action against Binance<\/a> in February, asserting that the exchange owes $2 billion in unpaid taxes and should compensate $79.5 billion for harm to the local economy, alleging its operations have destabilized the nation\u2019s currency, the naira, an accusation Binance refutes.<\/p>\n

The agency also reportedly contended that Binance is obligated to pay corporate income tax in Nigeria, citing a \u201csignificant economic presence\u201d in the country, with FIRS requesting a judicial ruling for the exchange to remit income taxes for 2022 and 2023, alongside a 10% annual penalty on overdue amounts and nearly a 27% interest rate on the unpaid taxes.<\/p>\n

Nigeria\u2019s judicial history with Binance<\/h2>\n

In February 2024, Nigerian authorities arrested and detained Binance executives Tigran Gambaryan and Nadeem Anjarwalla on allegations of tax fraud and money laundering. The nation dismissed the tax allegations<\/a> against both individuals in June and the remaining charge<\/a> against Gambaryan in October.<\/p>\n

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Tigran Gambaryan (right) was captured in a September video struggling to enter a courtroom in Abuja, Nigeria. Source: <\/em>X<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Anjarwalla managed to evade his guards and escaped from detention in Nigeria<\/a>, fleeing to Kenya in March of the previous year and is believed to still be at large.<\/p>\n

Related: <\/strong><\/em>Binance exec provides details about release from Nigerian custody<\/strong><\/em><\/a>\u00a0<\/p>\n

Gambaryan, who is a citizen of the U.S., returned to his home country<\/a> in October after reports indicated his health had worsened during his imprisonment due to pneumonia, malaria, and a herniated spinal disc that might require surgical intervention.<\/p>\n

Binance ceased its naira<\/a> currency transactions in March 2024, effectively withdrawing from the Nigerian market.<\/p>\n

Magazine: <\/strong><\/em>Trash collectors in Africa generate crypto to support families through ReFi<\/strong><\/em><\/a>\u00a0<\/strong><\/em><\/p>\n