Nigeria filed a legal lawsuit against Binance, demanding $ 79.5 billion of economic damage and 2 billion dollars of unpaid taxes, which represents one of the largest financial claims that are ever imposed against the encrypted currency exchange.
According to a report From Reuters, the case was submitted to the Federal Supreme Court in Abuja, claiming that the Bings operations have been destroyed by the stability of the Nigeria economy, contributed to reducing the sharp value in Nalira, and facilitated the widespread tax evasion.
The essence of the Nigeria issue against Binance
The Nigerian authorities claim that Binance, despite the work as an unregistered entity in the country since at least 2019, has played a direct role in currency and capital speculation, which exacerbated the low value of the brightness. The Nigerian Nira has lost more than 70 % of its value against the US dollar since 2023, with inflation to 24.48 % in January 2025, according to data from the National Statistical Office in Nigeria.
The lawsuit also indicates the failure of Binance to comply with the local Tax regulations. The Federal Revenue Department (FIRS) requires the income of unpaid companies for 2022 and 2023, in addition to penalties including a 10 % annual fine on the amounts due and the interest rate is 26.75 % based on the lending price in the central bank.
This lawsuit is the latest in a series of legal and regulatory measures against Binance in Nigeria. In 2024, the Nigerian government was detained Two executivesTigran Gambaryan and Nadeem Anjarwalla, a broader medium campaign On encrypted currency platforms.
These executives faced four separate fees for tax evasion, including not paying the value -added tax, the company’s income tax, the lack of tax declarations, and allegations of enabling users to evade taxes through its platform. The company denied these charges and claims that it is working with the Nigerian government to resolve any suspended tax obligations.
In March 2024, Binance stopped all transactions and trading in Al -Nurai amid the escalating organizational pressure. Nevertheless, the authorities confirm that previous activities of the stock exchange had a permanent impact on the Nigerian financial system, which calls for a lawsuit worth $ 81.5 billion.
Bribery allegations and political repercussions
The legal battle took a dramatic turn after allegations of Binance Executive Tigran Gambaryan, which Nigerian lawmakers tried to seek a Cracks bribery of $ 150 million In exchange for settling the legal problems of the platform. The Nigerian government strongly denied these allegations, and rejected it as false and defaming.
On the other hand, the Nigerian authorities accuse Bennes of trying to pay a bribe of $ 5 million to secure Gambarian Release From detention, the claim was denied. These conflicting accounts led to speculation about the real motives behind the issue, as some analysts indicate that the aggressive legal position of Nigeria may be part of the broader geopolitical and economic maneuver.
