The Federal High Court in Abuja has adjourned the tax evasion case filed by the Federal Government against cryptocurrency exchange company Binance Holdings Limited to allow both parties continue settlement discussions outside the courtroom.
Justice Emeka Nwite reportedly shifted the matter to July 9, 2026, after lawyers representing Binance and the Federal Government informed the court that negotiations aimed at resolving the dispute amicably were still ongoing.
Counsel to Binance, Chukwuka Ikwuazom, SAN, alongside another lawyer representing the company, Sunday Adaji, told the court that discussions with Nigerian authorities were progressing. The Federal Government’s counsel, Omotola Fatogun, as well as Moses Ideho from the Nigeria Revenue Service, also confirmed the settlement talks before the court.
Binance is facing a four count charge bordering on alleged tax evasion linked to its operations in Nigeria. The company had previously pleaded not guilty to the charges after its Nigerian representative, Ayodele Omotilewa, appeared before the court on behalf of the firm.
The legal battle forms part of a wider crackdown by Nigerian authorities on Binance over allegations relating to tax obligations, money laundering, and the impact of cryptocurrency trading on the Nigerian economy.
Apart from the tax evasion case, the Economic and Financial Crimes Commission (EFCC) is also prosecuting the cryptocurrency company over alleged money laundering involving about $35.4 million.
The Federal Government is equally pursuing a separate civil suit demanding about $79.5 billion in alleged economic losses and approximately $2 billion in back taxes linked to Binance’s operations in Nigeria.
Observers say the move toward settlement may signal efforts by both parties to avoid a prolonged legal confrontation that could further affect Nigeria’s cryptocurrency regulatory environment and investor confidence.
