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Binance acknowledges $81.5bn Nigerian lawsuit, promises updates

Binance has acknowledged the Nigerian government’s lawsuit seeking $81.5bn in damages and unpaid taxes, stating that it is aware of the legal action and will provide updates as necessary. In response to an email inquiry from The PUNCH, a Binance spokesperson said, “Noting that we have seen your email. We will reach out to you Read More



Binance has acknowledged a $81.5 billion lawsuit filed by the Nigerian government, which includes $79.5 billion in damages and $2 billion in unpaid taxes. The case, filed in the Federal High Court in Abuja, names Binance and two of its executives as defendants. Binance has stated it is aware of the legal action and will provide updates as necessary. The lawsuit alleges violations of tax laws, failure to register for tax compliance, and contributions to economic distortions. Binance ceased naira transactions in March 2024 amid regulatory scrutiny, and the case remains under judicial review with no detailed response from Binance yet.

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