By Adenike Lawal
The Federal High Court in Abuja has admitted documents presented by the Federal Inland Revenue Service, allegedly confirming Binance’s financial transactions in Nigeria, as evidence in the ongoing tax evasion case against the global cryptocurrency platform.
Justice Emeka Nwite admitted the documents on Friday, following a submission by the FIRS counsel, Moses Idehu, marking a significant development in the legal battle.
The FIRS, in its amended lawsuit filed on May 17, 2024, accused Binance of failing to collect and remit essential taxes, including Value Added Tax and Company Income Tax, in line with the provisions of Section 40 of the FIRS Establishment Act of 2007.
The tax agency maintains that Binance offered services such as the buying and selling of cryptocurrencies within Nigeria’s jurisdiction, without fulfilling its tax obligations to the federation.
The admission of these documents is expected to strengthen the prosecution’s case, as it seeks to establish the scale of Binance’s transactions and its alleged non compliance with Nigerian tax laws.
The case underscores Nigeria’s growing scrutiny of digital finance platforms and the government’s push to enforce tax compliance across emerging sectors.
The trial continues, with keen attention from both the financial and legal communities as the matter unfolds.
