Binance tax evasion settlement Nigeria as crypto firm seeks amicable resolution of Federal Government charges in Abuja court proceedings

The Binance tax evasion settlement Nigeria update was disclosed during proceedings before Justice Emeka Nwite, where both prosecution and defence counsel confirmed that discussions were underway to resolve the matter out of court.

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Binance’s counsel, Sunday Agaji, told the court that the company had initiated steps toward a negotiated resolution with the relevant tax authorities, adding that both parties were currently exploring settlement options.

The Federal Inland Revenue Service (now Nigeria Revenue Service), represented by Deputy Director Moses Ideho, corroborated the development, noting that the agency had been informed of Binance’s outreach for a possible settlement arrangement.

Following submissions from both sides, Justice Nwite adjourned the matter until 12 May for a report on the outcome of settlement discussions, effectively pausing further trial proceedings for now.

The Binance tax evasion settlement Nigeria case stems from a four-count charge filed against the company in July 2024, alleging violations related to tax compliance.

The firm had previously pleaded not guilty through its Nigerian representative, Ayodele Omotilewa.

The case follows earlier legal developments in which charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla were struck out after amendments to the charge sheet left the company as the sole defendant.

Binance is also facing parallel proceedings, including a money laundering case brought by the Economic and Financial Crimes Commission (EFCC), as well as a separate civil suit seeking significant financial penalties over alleged economic losses.

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The latest move signals a potential turning point in one of Nigeria’s most closely watched financial regulatory disputes, with stakeholders now awaiting the outcome of settlement talks.