The Federal Government has approached the Federal High Court in Abuja to compel the cryptocurrency exchange company, Binance Holdings Limited, to pay $79.51 billion and ₦231 million (approximately 122.86 trillin) for alleged economic losses caused by its operations in Nigeria.
The plaintiff, the Federal Inland Revenue Service, in a charge sighted on Wednesday, marked FHC/ABJ/CS/1444/2024, against Binance, is also seeking payment of $2.001 billion in income taxes for 2022 and 2023.
In the lawsuit, Binance and two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, are accused of contravening Nigerian laws, including failing to register with FIRS for tax compliance and allegedly causing economic losses to the country during the review period.
