Binance seeks Nigeria tax case settlement talks

Binance is seeking an out-of-court settlement with Nigerian authorities over a $2 billion tax dispute, signalling a potential resolution to one of its largest legal battles.

The exchange confirmed during a hearing in Abuja that it had begun discussions with the Nigeria Revenue Service, with both parties acknowledging ongoing negotiations.

Judge Emeka Nwite adjourned proceedings until May 12 to allow time for progress, as Binance attempts to resolve allegations tied to unpaid taxes and regulatory breaches.

The case stems from a February 2025 lawsuit in which Nigeria accused Binance of owing $2 billion in back taxes and sought an additional $79.5 billion in damages linked to alleged economic losses.

The dispute escalated following claims that Nigerian lawmakers demanded a $150 million bribe from Binance, adding political tension to the case and complicating negotiations.

Binance remains the sole defendant after charges against former executive Tigran Gambaryan and another executive were dropped, though the company has maintained a not-guilty plea.

Separately, Binance is also facing money laundering charges from Nigeria’s Economic and Financial Crimes Commission involving $35.4 million, underscoring broader regulatory pressure on the exchange in the region.