The Federal Inland Revenue Service (FIRS) has escalated its legal battle against Binance, a prominent cryptocurrency exchange platform, by filing criminal charges related to tax evasion. This move, announced in a statement on Monday, underscores the government’s commitment to fiscal responsibility and economic integrity amid growing scrutiny of digital asset platforms.
According to FIRS, the lawsuit filed at the Federal High Court in Abuja under case number FHC/ABJ/CR/115/2024 accuses Binance of four distinct tax offenses, including non-payment of Value Added Tax (VAT), failure to file tax returns, non-payment of Company Income Tax (CIT), and aiding customer tax evasion.
The FIRS alleges that Binance’s platform facilitated customer tax evasion, pointing to violations of Nigerian tax regulations and failure to register for tax purposes. The lawsuit names Tigran Gambaryan and Nadeem Anjarwalla, senior Binance executives currently in custody, as defendants.
This legal action comes amidst heightened scrutiny of Binance following its guilty plea for violating anti-money laundering laws in the United States, resulting in a $4.3 billion penalty. The outcome of this case will be closely monitored as it could set a precedent for regulating cryptocurrency activities in Nigeria, shaping the future landscape of digital asset trading in the country.
