A Nigerian judge has postponed the tax evasion case against Binance, the leading global cryptocurrency exchange, until May 12.
This adjournment follows a request from the Nigerian revenue service for permission to deliver court documents to Binance via email.
The Federal Inland Revenue Service (FIRS) seeks $79.5 billion for alleged economic losses caused by Binance’s operations within Nigeria.
Additionally, the FIRS is demanding $2 billion in unpaid back taxes from the cryptocurrency platform.
Nigerian authorities attribute the nation’s currency instability partly to Binance’s activities. In 2024, two Binance executives were detained amidst a crackdown on cryptocurrency platforms used for trading the local naira.
Binance has yet to issue a formal response regarding these serious allegations of tax evasion and economic destabilization.
During Wednesday’s proceedings, the revenue service urged the court to dismiss Binance’s opposition to receiving court summons through electronic mail.
FIRS lawyer Kanu Agabi argued that Binance’s Nigerian legal representatives could also be served, given the company’s obscure registration details.
Agabi emphasized Binance’s substantial economic footprint and its operation of an online platform for cryptocurrency transactions in Nigeria.
Conversely, Binance’s legal counsel, Chukwuka Ikwuazom, had previously requested the court to nullify the order for serving documents outside Nigeria.
The basis for this request was the FIRS’s alleged failure to obtain prior leave from the court before initiating the international service.
The adjourned hearing next month will likely address these critical procedural and substantive issues in this high-stakes legal battle.
