Business
Binance Faces New Legal Twist As Court Escalates $79.5B Lawsuit
Binance Faces New Legal Twist As Court Escalates $79.5B Lawsuit
A Federal High Court in Abuja has postponed the case filed by the Federal Inland Revenue Service (FIRS) against Binance Holdings Limited to April 7.
During the hearing, overseen by Justice Inyang Ekwo, the FIRS sought $79.5 billion in damages for the economic losses it claimed were caused by Binance’s operations in Nigeria. The FIRS requested that the court order Binance to pay an additional 10 percent for failing to pay income taxes for the years 2022 and 2023.
Additionally, the FIRS asked the court to impose a 26.75% interest rate, reflecting the Central Bank of Nigeria’s annual lending rate, starting from January 1, 2023, and January 1, 2024.
The FIRS alleged that Binance and its executives had committed several violations, including providing financial services in Nigeria without complying with the country’s regulations on money laundering, fraud, and other related offenses.
-
Latest News2 weeks agoBREAKING: Tinubu Appoints New NIPC, NEPZA Board Chairpersons
-
Latest News2 weeks ago -
Latest News2 weeks agoEl-Rufai Makes Major Move, Withdraws Three Applications In Corruption Case
-
Latest News1 week agoAPC Kicks Off 2027 Candidate Upload On INEC Portal
-
Politics1 week agoMalami Makes Political Move, Names ADC Deputy Gov Candidate In Kebbi
-
Gist1 week agoTinubu Appoints Three Oyo Indigenes To Key Federal Positions
-
Latest News7 days agoBREAKING: Okpebholo Suspends Edo Commissioner, LPRES Coordinator
-
Latest News2 weeks agoFull List: Edo Governor Announces 20 New Appointments
-
Politics2 weeks agoUmahi Breaks Silence Over Lady’s Death Inside His Residence
-
Politics7 days agoIkeja Bomb Blast Linked Tinubu, Pedro, Sanwo-Olu — Ex-Aide
-
Latest News2 weeks agoLukman Walks Away From ADC, Faults El-Rufai
-
Politics2 weeks agoPhoto: ADC Unveils Presidential Candidate On INEC Portal, Atiku Left Out