Reported 2 days ago
Nigeria has initiated legal proceedings against Binance, demanding $79.5 billion for economic damages attributed to its operations and an additional $2 billion in back taxes. The lawsuit contends that Binance's activities have negatively impacted the Nigerian economy, leading to the detention of two of its executives in 2024. Nigerian tax authorities argue that Binance has a significant presence in the country and is liable for unpaid corporate income taxes for 2022 and 2023, along with penalties and interest. Binance, facing multiple tax evasion charges, has denied the allegations and ceased naira transactions last year.
Source: YAHOO