Binance Seeks Out-of-Court Settlement in $2 Billion Nigerian Tax Case
Binance is negotiating with Nigerian authorities to settle a $2 billion tax evasion case out of court.Summary
Binance is currently in talks with the Nigeria Revenue Service to resolve a $2 billion tax evasion case through an out-of-court settlement, as confirmed during a recent High Court hearing in Abuja. The lawsuit, initially filed in February 2025, accuses Binance of owing back taxes and causing $79.5 billion in economic losses due to unlicensed operation. The case reportedly stemmed from allegations of a $150 million bribe demand from Nigerian lawmakers. Former Binance executive Tigran Gambaryan initially represented the exchange, but was later replaced by Ayodele Omotilewa, Binance’s Nigerian representative, who pleaded not guilty on the company’s behalf. The court has removed the names of Gambaryan and another executive, Nadeem Anjarwalla, who escaped custody, leaving Binance as the sole defendant. Separately, the Economic and Financial Crimes Commission (EFCC) has charged Binance with money laundering involving $35.4 million. The court has adjourned proceedings until May 12 to allow both parties to report on the progress of negotiations.
(Source：Bitcoin News)