Binance is reportedly discussing an out-of-court settlement with Nigerian authorities to resolve its ongoing tax evasion case.
The Multi-Billion Dollar Legal DisputeFormer Binance executive Tigran Gambaryan, who spent several months in Nigerian custody, initially represented the exchange. After his release, Binance’s Nigerian representative, Ayodele Omotilewa, took his place and entered a not-guilty plea on behalf of the company.
Eventually, the court struck out the names of Gambaryan and another Binance executive who escaped from custody, Nadeem Anjarwalla, leaving Binance as the sole defendant. The company is also facing separate proceedings: the Economic and Financial Crimes Commission (EFCC) has charged Binance with money laundering involving $35.4 million.
FAQ What is Binance accused of in Nigeria? The Nigerian government alleges Binance owes $2 billion in back taxes and caused $79.5 billion in economic losses. What legal actions has Nigeria taken? Binance faces tax evasion charges, a money laundering case involving $35.4 million, and a separate civil suit. Who represents Binance in court? Ayodele Omotilewa, Binance’s Nigerian representative, entered a not‑guilty plea on behalf of the company. What is the current status of the case? Settlement talks are underway, with the court adjourning until May 12 for updates.
