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Binance Tax Saga: Court Adjourns Case to May 12, Approves the Serving of Documents Via Email
A Nigerian court has adjourned Binance tax case to May 12, giving both sides breathing room to strengthen their arguments. The real game-changer? Justice Emeka Nwite just approved email deliveries for legal documents – a move that cuts through Binance’s “ghost office” problem in Nigeria.
The Federal Inland Revenue Service (FIRS) isn’t playing nice. They’ve slapped Binance with eye-watering demands: $79.5 billion for allegedly wrecking Nigeria’s economy plus $2 billion in back taxes. Their argument? Binance’s crypto trading frenzy made the naira nosedive, with Nigeria’s currency losing over 70% of its dollar value since last year.
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Here’s where it gets messy. Binance operates like a digital phantom here – no physical offices, no clear registration details. When FIRS tried serving papers the old-fashioned way, they hit a brick wall. “You can’t serve ghosts,” FIRS lawyer Kanu Agabi practically argued in court. Their solution? Hunt down Binance through its Nigerian lawyers and blast documents to its email inboxes.
Binance’s legal team cried foul. “You didn’t follow the rules!” their lawyer Chukwuka Ikwuazom protested about the document delivery methods. But Justice Nwite wasn’t having it. His ruling to approve email service smacked down Binance’s objections, setting up a May 12 courtroom showdown.
This isn’t just about paperwork. Two Binance execs got caught in the crossfire earlier this year. One’s still locked up, while the other pulled a Houdini-style escape from custody. The arrests sent shockwaves through diplomatic circles, with the US and UK demanding answers.
Why all the fuss? Nigeria’s fighting to stop what it calls “economic sabotage.” When the court adjourns Binance case to May 12, they’ll be arguing whether crypto platforms enable money flight and currency speculation. The Central Bank already tried banning crypto deals through banks in 2021, but enforcement’s been spotty.
Binance keeps repeating they’re “working with authorities” to sort out tax issues, but stay mum on the naira crash accusations. Legal experts whisper this case could rewrite how countries handle offshore crypto platforms. For now, all eyes are on May 12 when the court adjourns Binance tax case to May 12 for round two of this financial thriller.
The email approval gives FIRS fresh ammunition, but Binance isn’t folding yet. As Nigerians watch their currency struggle and regulators flex muscles, this battle could decide whether crypto whales swim free or get reeled in by tax authorities. One thing’s clear – come May 12, the courtroom drama will reveal whether Nigeria’s $79.5 billion gamble pays off.
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