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Promote with Leviathan NewsA Nigerian high court is weighing whether the federal government properly notified Binance in a sprawling civil and tax case seeking roughly $81 billion in alleged economic damages and unpaid taxes, after prosecutors initially sent court documents to the wrong email address. The judge has set a decision date of November 12 on whether the case can move forward using substituted service—electronic service of court papers—after Binance challenged the validity of the earlier email-based notification. This lawsuit is one of multiple legal and regulatory actions Nigeria has brought against the exchange, including separate criminal and tax proceedings. Nigeria’s suit, filed in early 2024, claims about $79.5 billion in economic losses the government says were caused by Binance’s operations in the country, plus roughly $2 billion in back taxes tied to alleged unregistered and untaxed activity over more than five years. Binance’s lawyers argue that Nigerian authorities did not obtain the necessary court permission to serve the company outside the country or to rely on email service, and are asking the court to invalidate service and halt progress until proper procedures are followed. The outcome matters both for Binance—already under pressure from regulators globally—and for how Nigerian courts apply substituted service to foreign crypto platforms, potentially setting a precedent for cross-border enforcement against offshore exchanges operating in local markets.
AI-generated background, compiled from web sources — not editorial content.
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