{"id":21088,"date":"2025-04-08T12:02:36","date_gmt":"2025-04-08T12:02:36","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=21088"},"modified":"2025-04-08T12:02:36","modified_gmt":"2025-04-08T12:02:36","slug":"nigerian-court-postpones-binance-tax-evasion-case-for-regulator-response","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=21088","title":{"rendered":"Nigerian Court Postpones Binance Tax Evasion Case For Regulator Response"},"content":{"rendered":"
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A Nigerian court has postponed the country\u2019s high-profile tax evasion case against Binance to April 30, allowing time for the Federal Inland Revenue Service (FIRS) to respond to a procedural objection from the cryptocurrency exchange.<\/span><\/p>\n

According to a 7\u00a0<\/span>April 2025 report by Reuters<\/span><\/a>, Binance\u2019s legal representative, Chukwuka Ikwuazom, challenged a previous court order that permitted legal documents to <\/span>be served<\/span> to the company via email. <\/span><\/p>\n

Ikwuazom argued that Binance, registered and based in the Cayman Islands, should not have been served through substituted means without proper court authorization.<\/span><\/p>\n

\u201cThe order for the substituted service granted on 11 February 2025, is improper and should be set aside,\u201d Ikwuazom stated in court.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n

Nigeria\u2019s Tax Authority First Sued Binance In February Over $2B In Alleged Unpaid Taxes<\/span><\/h2>\n

The FIRS initially filed the lawsuit in February, alleging Binance owed approximately $2 billion in unpaid taxes. The regulator further claimed Binance\u2019s operations in Nigeria contributed to the devaluation of the naira and demanded $79.5 billion in damages.<\/span><\/p>\n

The FIRS also argued that Binance has a \u201csignificant economic presence\u201d in Nigeria and should be liable for corporate income taxes for <\/span>the years<\/span> 2022 and 2023. It has asked the court to impose a 10% annual penalty on <\/span>the unpaid<\/span> taxes and nearly 27% interest.<\/span><\/p>\n

The case is part of a broader crackdown on the crypto giant in Nigeria. In February 2024, two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, were detained on tax and money laundering allegations. <\/span><\/p>\n

Nigeria later dropped the tax charges against both in June, followed by t<\/span>he dismissal of <\/span>the remaining charge against Gambaryan in October.<\/span><\/p>\n

Anjarwalla escaped custody in March 2024 and fled to Kenya, where he remains at large. Gambaryan, a U.S. citizen, <\/span>returned home later<\/span><\/a> that year after reportedly suffering serious health issues while detained.<\/span><\/p>\n

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WIRED journalist @a_greenberg<\/a> interviewed @TigranGambaryan<\/a>, former IRS Criminal Investigations Special Agent and Head of Financial Crime Compliance at Binance, about his 8-month detention in Nigeria, and efforts from the public and private sector to bring about his release. “It\u2026 pic.twitter.com\/OvVya6NMoZ<\/a><\/p>\n

\u2014 Chainalysis (@chainalysis) April 1, 2025<\/a><\/p>\n<\/blockquote>\n