A Federal High Court sitting in Abuja has adjourned the suit filed against Binance Holdings Limited by the Federal Inland Revenue Services until April 7.
At the hearing presided over by Justice Inyang Ekwo, the FIRS demanded $79.5 billion as damage over economic losses caused by Binance following its activities in Nigeria.
The FIRS had asked the court to make an order mandating the defendants to pay to the plaintiff the 10 per cent addition for non-payment of income tax for Years 2022 and 2023, respectively.
It also urged the court to 26.75% interest rate being the prevailing Central Bank of Nigeria lending annual interest from the 1st of January, 2023 and 1st of January, 2024
According to the FIRS, Binance and its executives committed several infractions which include rendering financial services in Nigeria without abiding by the nation’s tenets and compliance against money laundering, fraud and the like.
