By Gwurld4026 
Binance Faces $81bn Lawsuit from FG Over Tax Evasion Claims
The Federal Government of Nigeria has filed a lawsuit against Binance, the world’s largest cryptocurrency exchange, seeking $81.5 billion in damages. The lawsuit, filed on February 19, 2025, comprises $79.5 billion for alleged economic losses and an additional $2 billion for back taxes covering the years 2022 and 2023.
Nigerian authorities accuse Binance of operating illegally within the country, contributing to economic instability, and evading corporate income taxes. The government asserts that Binance’s platform facilitated unauthorized trading of the Nigerian naira, leading to significant currency fluctuations and economic challenges.
In 2024, two Binance executives were detained in Nigeria on allegations of illegal operations and forex manipulation, highlighting the ongoing tensions between the company and Nigerian regulators. Binance has stated that it is cooperating with Nigeria’s Federal Inland Revenue Service to address potential historical tax liabilities and is contesting the charges brought against it.