In a twist that could only be described as “utterly Nigerian,” a court has decided to kick the $81.5 billion tax case against Binance down the road to April 30, 2025. Why? Because Binance, the cheeky crypto giant, asked the court to toss out an earlier order that allowed legal papers to be served via email. 📧💥
Chukwuka Ikwuazom, Binance’s lawyer, stood in court like a man who’d just discovered his favorite cake was made of cardboard. He argued that Nigeria’s tax agency had skipped a few steps in their legal cha-cha. “You can’t just email us and call it a day,” he seemed to say. “We’re based in the Cayman Islands, not your neighbor’s backyard!” 🏝️👨⚖️
“The order for substituted service granted on February 11, 2025, is improper and should be set aside,” Ikwuazom declared, sounding like a man who’d just won a round of Monopoly. But this is no game—Nigeria is suing Binance for a whopping $81.5 billion, claiming $2 billion in back taxes and $79.5 billion in “economic damages.” That’s enough to make even Scrooge McDuck blush. 🦆💸
According to the Nigerian tax authority, Binance’s operations have been wreaking havoc on the economy, particularly the Naira, which has plummeted more than 70% since 2023. Inflation? Oh, that’s just chilling at nearly 30%. Thanks, Binance! 🙃📉
FIRS, Nigeria’s tax agency, claims Binance’s peer-to-peer exchange platform has been siphoning money out of the country and turning the financial system into a rollercoaster ride. “You’re making this worse!” they seem to shout, shaking their fists at the sky. 🌍💔
Here’s the kicker: Binance handled over $21.6 billion in transactions in Nigeria last year. That’s not just a presence—it’s a full-blown invasion, even if they don’t have an office there. FIRS insists Binance should pay company tax, a 10% penalty, and interest based on the Central Bank’s rate. Cha-ching! 💰💼
Binance, for its part, has remained as silent as a mime in a library. Earlier, they did mention they were “working with FIRS to sort things out.” But for now, the case is on pause until April 30. Mark your calendars, folks—this showdown is far from over. 🗓️🥊
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2025-04-08 21:09