A Nigerian judge has postponed a high-profile tax evasion case against Binance, the world’s largest cryptocurrency exchange, to May 12.
The Federal Inland Revenue Service (FIRS) requested the adjournment on Wednesday, seeking court approval to serve documents on Binance via email.
The move comes amid a heated legal battle, as Nigerian authorities pursue $2 billion in back taxes and $79.5 billion in damages from Binance.
The FIRS claims Binance’s crypto operations destabilized the naira and caused substantial economic harm within the country’s fragile financial system.
In early 2024, two Binance executives were detained as the government intensified its crackdown on digital currency platforms.
On Wednesday, FIRS counsel Kanu Agabi argued that Binance, though registered offshore, could be legally served through its Nigerian lawyers.
Agabi called Binance’s corporate structure “shrouded in secrecy,” stressing its significant digital presence and economic activity in Nigeria.
The court heard that Binance, which lacks a physical office in the country, continues to facilitate widespread crypto trading among Nigerians.
Binance’s legal team, led by Chukwuka Ikwuazom, had previously challenged the serving of court papers by email, citing procedural flaws.
They argued the tax authority failed to obtain prior court approval before attempting to notify Binance outside Nigerian jurisdiction.
Binance has yet to publicly comment on the latest court developments but has stated in the past it is cooperating with FIRS to resolve the matter.
The next hearing is set for May 12, as Nigeria sharpens its regulatory focus on digital currencies and their impact on national stability.