Nigeria may end up playing into the hands of US president Donald Trump. A man who openly show his aversion for African leaders, Trump is in all out war with anything that would hurt US interests anywhere.
With the case marked marked FHC/ABJ/CS/1444/2024, the Federal Government is once again dragging Binance Holdings Limited to court. This would make it the third legal action the country is taking against the crypto giant.
Binance allegedly violated quite a number of financial laws in Nigeria since it started operation some six years ago, the Federal Inland Revenue Service (FIRS) which brought the suit said.
Among other offences, the cryptocurrency company did not register with FIRS for six years it operated in Nigeria. Apart from this, it didn’t pay its income taxes for 2022 and 2023 which amount to $2.001 billion.
FIRS is, therefore, demanding that the taxes be paid. Its also demanding $79.59 billion and ₦231 million from Binance as compensations for the alleged economic losses its operations caused Nigeria.
Why is FG suing Binance after Tigran Gambaryan exposed lawmakers? Trump
If not for anything, the timing of the FIRS suit against Binance is a wrong one. Its barely a week after Gambaryan opened a can of worms in a lengthy X post that directly indicted three Nigerian lawmakers.
He detailed the lawmakers’ shameful efforts to get $150 million bribe from Binance as a condition to free him during his trial January 2024.
The three lawmakers he named are lawmakers as Peter Akpanke, Philip Agbese, and Ginger Obinna Onwusibe.
Gambaryan’s detailed narrative was too convincing, and it clearly highlighted the country to an embarrassing spot before the international community.
How FIRS would go about bringing Binance to trial is yet to be known. And the reasons the revenue agency, which withdrew its suit against Binance in 2024, is suing again is both confusing and mysterious. The whole tale about new legal action against Binance looks like an attempt to save face.
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