On Tuesday, the Federal High Court in Abuja postponed the Federal Government’s alleged tax evasion case against Binance Holdings Ltd. until July 9 in order to receive a settlement report.
Justice Emeka Nwite adjourned the matter after Binance’s lawyer, Chukwuka Ikwuazom, SAN, and the federal government’s counsel, Omotola Fatogun, informed the court that the parties were still discussing settling the case out of court.
The News Agency of Nigeria (NAN) reports that the cryptocurrency company had, on March 24, sought an amicable resolution of the matter.
Another lawyer, Sunday Adaji, who represents Binance, informed the court that discussions were ongoing.
Mr. Moses Ideho, a deputy director, Legal Department, Federal Inland Revenue Service (now Nigeria Revenue Service), confirmed the development on the federal government’s behalf.
Binance Holdings Limited was, on July 12, 2024, re-arraigned on a four-count charge bordering on tax evasion allegations.
The Nigerian representative of Binance, Ayodele Omotilewa, who was docked, took a plea on behalf of the company before Justice Nwite.
He pleaded not guilty to the four counts.
The re-arraignment before the judge followed the discharge of the cryptocurrency firm’s executive, Tigran Gambaryan, and his fleeing colleague, Nadeem Anjarwalla, from the alleged offence.
