{"id":126678,"date":"2025-04-08T06:16:39","date_gmt":"2025-04-08T06:16:39","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126678"},"modified":"2025-04-08T06:16:39","modified_gmt":"2025-04-08T06:16:39","slug":"nigerian-court-postpones-binance-tax-evasion-case-to-end-of-april-report","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126678","title":{"rendered":"Nigerian court postpones Binance tax evasion case to end of April: Report"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsA Nigerian court has reportedly delayed the country\u2019s tax evasion case against Binance until April 30 to give time for Nigeria\u2019s tax authority to respond to a request from the crypto exchange.<br \/>\nReuters reported on April 7 that a lawyer for Binance, Chukwuka Ikwuazom, asked a court the same day to invalidate an order allowing for court documents to be served to the company via email.<br \/>\nBinance doesn&#8217;t have an office in Nigeria and Ikwuazom claimed the Federal Inland Revenue Service (FIRS) didn\u2019t get court permission to serve court documents to Binance outside the country.<br \/>\n&#8220;On the whole the order for the substituted service as granted by the court on February 11, 2025 on Binance who is &#8230; registered under the laws of Cayman Islands and resident in Cayman Islands is improper and should be set aside,&#8221; he said.<br \/>\nFIRS sued Binance in February, claiming the exchange owed $2 billion in back taxes and should be made to pay $79.5 billion for damages to the local economy as its its operations allegedly destabilized the country\u2019s currency, the naira, which Binance denies.<br \/>\nIt also reportedly alleged that Binance is liable to pay corporate income tax in Nigeria, as it has a \u201csignificant economic presence\u201d there, with FIRS requesting a court order for the exchange to pay income taxes for 2022 and 2023, plus a 10% annual penalty on unpaid amounts along with a nearly a 27% interest rate on the unpaid taxes.<br \/>\nNigeria\u2019s legal history with Binance<br \/>\nIn February 2024, Nigeria arrested and detained Binance executives Tigran Gambaryan and Nadeem Anjarwalla on tax fraud and money laundering charges. The country dropped the tax charges against both in June and the remaining charge against Gambaryan in October.<br \/>\nTigran Gambaryan (right) was seen in a September video struggling to walk into a courtroom in the Nigerian capital of Abuja. Source: XAnjarwalla managed to slip his guards and escape Nigerian custody to Kenya in March last year and is apparently still at large.<br \/>\nRelated: Binance exec shares details about release from Nigerian detention\u00a0<br \/>\nGambaryan, a US citizen, returned home in October after reports suggested his health had deteriorated during his detainment with reported cases of pneumonia, malaria and a herniated spinal disc that may need surgery.<br \/>\nBinance stopped its naira currency deposits and withdrawals in March 2024, effectively leaving the Nigerian market.<br \/>\nMagazine: Trash collectors in Africa earn crypto to support families with ReFi\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/nigeria-court-adjourns-binance-tax-evasion-case-april-30?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsA Nigerian court has reportedly delayed the country\u2019s tax evasion case against Binance until April 30 to give time for Nigeria\u2019s tax authority to respond to a request&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126678"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126678"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126678\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126678"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}