The Nigerian government has sued Binance Holdings Limited, seeking $81.5 billion in back taxes and economic damages.
Filed in the Federal High Court in Abuja, the case accuses Binance of failing to register with Nigeria’s tax authorities and contributing to the naira’s depreciation.
The Federal Inland Revenue Service (FIRS) is demanding $2 billion in unpaid income taxes for 2022 and 2023, along with $79.51 billion in economic losses.
Binance and its executives, Tigran Gambaryan and Nadeem Anjarwalla, face charges of tax evasion, money laundering, and foreign exchange violations.
The lawsuit includes a 10% penalty for non-payment and a 26.75% annual interest rate on outstanding taxes.
The FIRS claims Binance violated multiple Nigerian tax laws, including the Companies Income Tax Act and the Significant Economic Presence (SEP) Order, which mandates foreign digital firms earning over ₦25 million annually to pay corporate income tax.
