Nigeria Sues Binance for $81.5 Billion Over Economic Losses and Unpaid Taxes

The lawsuit accuses Binance of contributing to Nigeria's currency collapse and demands back taxes with penalties.

The Nigerian government has filed a lawsuit against Binance, seeking $79.5 billion for alleged economic damages and $2 billion in unpaid taxes.
Authorities claim Binance's operations devalued the naira, which has fallen over 70% against the U.S. dollar since 2023.
The lawsuit demands corporate income taxes for 2022 and 2023, along with a 10% annual penalty and a 26.75% interest rate on unpaid amounts.
The case follows previous legal disputes, including tax evasion and money laundering charges, and the detention of Binance executives in 2024.
Binance, which halted naira-denominated trading last year, has stated it is working with Nigerian tax authorities to resolve potential liabilities.