Binance Re-Arraignment on Hold as FIRS Tax Trial Faces Delay

The Federal Inland Revenue Service’s (FIRS) tax evasion case against Binance Holdings Limited was stalled on Wednesday following the absence of the presiding judge, Justice Emeka Nwite, at the Federal High Court in Abuja.

The case, which was scheduled for continuation of the cross-examination of the third prosecution witness, has now been adjourned to October 14, 2025, as the judge was said to be engaged in another official assignment.

Binance Holdings Limited, represented in court by its Nigerian agent, Ayodele Omotilewa, is standing trial on a four-count charge bordering on alleged tax evasion.

The cryptocurrency exchange’s representative had entered a plea of not guilty on behalf of the company when it was re-arraigned before Justice Nwite on July 12, 2024.

The re-arraignment came after the court struck out the names of Binance executive Tigran Gambaryan and his associate, Nadeem Anjarwalla, who was declared at large.

In his June 14 ruling, Justice Nwite discharged both individuals following an application by FIRS counsel, Moses Ideho, who filed an amended charge listing only Binance Holdings Limited as the sole defendant.

The FIRS prosecution forms part of a broader crackdown by Nigerian authorities on alleged tax infractions and financial misconduct within the digital asset space.

The tax case is running alongside a separate criminal matter filed by the Economic and Financial Crimes Commission (EFCC) against Binance on allegations related to money laundering.

The latest adjournment means that the high-profile dispute involving the world’s largest cryptocurrency exchange and Nigerian regulators will drag into the final quarter of the year, prolonging uncertainty for the company’s operations and its local compliance strategy.

Stakeholders and industry analysts continue to monitor the development as Nigeria steps up enforcement of its tax framework for international digital asset operators.

The FIRS maintains that Binance failed to comply with existing tax obligations, including the collection and remittance of Value Added Tax (VAT) and Company Income Tax (CIT) as required under Nigerian law.

Binance has consistently denied any wrongdoing, insisting it is engaging with authorities in good faith to resolve regulatory concerns and align its operations with Nigeria’s financial regulations.

With the next hearing now fixed for October 14, both the FIRS and Binance’s legal teams are expected to continue presenting evidence and cross-examining witnesses when proceedings resume.