ABUJA :A Nigerian judge on Wednesday adjourned a tax evasion case against the world’s largest crypto exchange until next month after the revenue service asked for permission to serve court documents by email to Binance.
Earlier this month, the presiding court adjourned the Binance case to allow the local tax authority to respond to a request by the cryptocurrency exchange to annul an order for court documents to be served on it by email.
The judge adjourned the hearing to May 12, according to the court.
Nigeria’s Federal Inland Revenue Service filed a lawsuit seeking to compel Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country, plus $2 billion in back taxes, according to court documents.
Authorities blame Binance for Nigeria’s currency instability, and detained two of its executives in 2024 after cryptocurrency websites emerged as platforms of choice for trading the local naira currency.
Binance has not responded to requests for comment on the allegations of tax evasion and destabilising the naira. It has previously said it is working with Nigeria’s Federal Inland Revenue Service to resolve potential historic tax liabilities.
On Wednesday, the revenue service (FIRS) asked the court to dismiss Binance’s objection to being served court summons by email because it is registered offshore.
FIRS lawyer Kanu Agabi told the court that Binance’s lawyers in Nigeria could also be served court summons on behalf of the company, arguing that Binance’s registration was unknown and “shrouded in secrecy”.
Binance does not have a physical office in Nigeria. But Agabi said Binance had a significant economic presence and operated an online platform dealing in crypto and virtual currency transactions globally, including in Nigeria.
Binance lawyer Chukwuka Ikwuazom asked the court earlier in April to set aside an order for the tax authority to serve court documents on Binance outside Nigeria because the FIRS did not obtain a leave from court before doing so.
(Writing by Chijioke Ohuocha; editing by Mark Heinrich)
