Binance, the leading exchange globally, has moved to settle its ongoing tax evasion case with Nigeria’s Federal Government out of court signalling a possible pause in one of the country’s most high-profile crypto legal battles.
The company’s lawyer told the Federal High Court in Abuja that both parties are now exploring an amicable resolution, a position confirmed by government counsel representing the tax authority.
The prosecution lawyer, Moses Ideho, a Deputy Director in the Legal Department of the Nigeria Revenue Service (formerly the Federal Inland Revenue Service – FIRS), said Binance had approached the federal service to explore an out-of-court settlement.
“My lord, parties are actually exploring settlement. That is essentially where we are.”
The case, which was due to continue trial proceedings, has been adjourned until May 2026 to allow time for settlement discussions.
Binance is facing a four-count charge related to alleged tax evasion, stemming from claims it failed to meet tax obligations while operating in Nigeria. The company has previously pleaded not guilty to the charges.
The legal dispute is part of a broader crackdown by Nigerian authorities on the crypto exchange, which also includes separate allegations of money laundering and a civil suit seeking billions of dollars in damages tied to its operations in the country.
REGULATION | Nigeria Sues Binance for $81.5 Billion in Economic Losses and Unpaid Taxes
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