Binance Offers a $2B Bag to Make Nigerian Tax Drama Vanish

Binance has decided that negotiating with Nigerian tax authorities is far more appealing than a brutal courtroom battle over a cool $2 billion in alleged unpaid dues.

During a hearing in Abuja, Binance’s legal rep, Sunday Agaji, confirmed to Judge Emeka Nwite that backchannel talks with the Nigeria Revenue Service are live. The prosecution, led by deputy director Moses Ideho, co-signed the narrative, noting the defense had literally just swung by their office that morning to chat about making this whole expensive problem go away.

Judge Nwite, perhaps dreaming of a quieter docket, promptly hit the pause button and adjourned the case until May 12, giving both sides a deadline to come back with a settlement update or admit they’re just wasting everyone’s time.

This whole expensive saga kicked off in February 2025, when the Nigerian government lobbed a legal grenade at Binance, claiming $2 billion in back taxes and, for good measure, asking for nearly $80 billion more for alleged economic damages—a number so large it suggests someone confused their local currency with a memecoin. The lawsuit also casually mentioned prior allegations that some lawmakers had tried to shake Binance down for a $150 million "consulting fee."

The exchange’s original courtroom face was former exec Tigran Gambaryan, who got an extended, involuntary vacation in Nigerian custody. After his release, local rep Ayodele Omotilewa stepped in to plead not guilty on Binance’s behalf. The court later did some housekeeping, dropping Gambaryan and another exec from the suit, leaving Binance itself holding the bag as the sole defendant.

Just to keep things spicy, Nigeria’s Economic and Financial Crimes Commission is also running a parallel show, having slapped Binance with separate money-laundering charges involving a mere $35.4 million—pocket change in this context.

For now, the settlement chats continue, with the next court check-in scheduled for May 12, where we’ll see if Binance’s checkbook diplomacy actually works.