Nigeria Hits Binance With $81.5 Billion Lawsuit
The Nigerian government has reportedly initiated legal action against Binance, seeking $79.5 billion in compensation for alleged economic losses and an additional $2 billion in unpaid taxes.
Filed in the Federal High Court in Abuja, the lawsuit accuses the cryptocurrency exchange of operating within Nigeria without proper licensing and failing to adhere to tax regulations.
This legal action marks the latest development in the ongoing dispute between Binance and Nigerian authorities.
The conflict began when officials attributed part of the sharp depreciation of the local currency in early 2024 to Binance’s operations.
Besides attempting to restrict the cryptocurrency exchange, Nigerian authorities have made efforts to compel Binance to address its tax liabilities.
