A Federal High Court in Nigeria has halted proceedings in the tax case against cryptocurrency firm Binance, setting a new hearing date for April 30 to address procedural concerns raised by the defence.
The delay follows an objection by Binance’s legal representative, who argued that the company, based outside Nigeria, was improperly served with court documents via email.
The lawyer, Chukwuka Ikwuazom, contended that such service breached legal protocol, as no court approval was obtained for cross-border notification.
The case, initiated by Nigeria’s tax authority, centres on allegations that Binance owes over $2 billion in unpaid taxes and is responsible for broader financial disruptions. Officials claim the platform’s operations in Nigeria contributed to currency instability and significant economic harm, leading to a separate $79.5 billion damages claim.
Despite lacking a physical presence in Nigeria, Binance is being accused of maintaining strong commercial influence in the country. Tax regulators insist this economic engagement makes the company liable for local corporate tax obligations, particularly for the years 2022 and 2023.
The cryptocurrency exchange, while yet to formally respond to the latest legal filings, has previously stated its intention to cooperate with the Federal Inland Revenue Service to address any outstanding tax issues.
