The Federal Government has filed criminal charges against Binance for tax evasion.
The Federal Inland Revenue Service filed the charges against Binance on Monday at the Federal High Court in Abuja on.
The Federal Government in the suit, number: FHC/ABJ/CR/115/2024, slammed Binance with a four-count tax evasion accusation.
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The FIRS in a statement on Monday said the move was aimed at upholding fiscal responsibility and safeguarding the economic integrity of the country.
It said: “The Federal Government also accused Binance of failure to register with FIRS for tax purposes and contravening existing tax regulations within the country.
“One of the counts in the lawsuit pertains to Binance’s alleged failure to collect and remit various categories of taxes to the federation as stipulated by Section 40 of the FIRS Establishment Act 2007 as amended.
“Section 40 of the Act explicitly addresses the non-deduction and non-remittance of taxes, prescribing penalties and potential imprisonment for defaulting entities.”
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