REGULATION | Binance Out-of-Court Settlement Tax Evasion Case in Nigeria Adjourned as Parties Continue Negotiations

A Nigerian court has adjourned the Federal Government’s tax evasion case against crypto exchange, Binance, until July 9 2026 as both parties pursue an out-of-court settlement, according to court proceedings.

Justice Emeka Nwite of the Federal High Court in Abuja fixed the new date after lawyers representing Binance and the government told the court that negotiations were ongoing.

Binance’s counsel, Chukwuka Ikwuazom, and government lawyer, Omotola Fatogun, informed the court that discussions toward an amicable resolution were continuing, while another Binance lawyer, Sunday Adaji, said engagements between both sides were still in progress.

Moses Ideho, deputy director in the legal department of Nigeria’s Federal Inland Revenue Service (FIRS), confirmed the development on behalf of the government.

Binance had earlier signaled its willingness to settle the dispute outside court during proceedings in March 2026 when both parties first disclosed that talks were underway.

Nigeria re-arraigned Binance in July 2024 on four counts of alleged tax evasion. The charges were amended to make Binance the sole defendant after authorities dropped charges against executives Tigran Gambaryan and Nadeem Anjarwalla. Binance’s Nigerian representative, Ayodele Omotilewa, entered a not guilty plea on behalf of the company.

The exchange is also facing a separate money laundering case brought by Nigeria’s Economic and Financial Crimes Commission (EFCC), which alleges Binance laundered about $35.4 million.

In a separate civil suit, Nigerian authorities are seeking roughly $79.5 billion in damages over alleged economic losses tied to Binance’s operations in the country.

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