The Federal High Court in Abuja has further adjourned the alleged tax evasion case filed by the Federal Government against Binance Holdings Limited to September 24, 2026, for a report of settlement.
Justice Emeka Nwite adjourned the matter on Thursday after counsel to the Federal Government, Moses Ideho, informed the court that both parties were still exploring an out-of-court settlement.
The court had earlier fixed Thursday for proceedings after lawyers representing Binance and the Federal Government told the court on May 12 that discussions were ongoing on a possible settlement.
Binance had first indicated interest in an amicable resolution of the case on March 24.
When the matter came up on Thursday, Ideho, a Deputy Director of Legal and Prosecution at the Federal Inland Revenue Service, now Nigeria Revenue Service, told the court that proceedings could not continue for two reasons.
He first referred to reports of Justice Nwite’s elevation to the Court of Appeal, saying counsel were grateful for the development.
“One is the elevation news of my lord to the Appeal Court. We have been praying for it and we are grateful that it has come to pass,” Ideho said.
He added that the second reason was that the parties were still discussing settlement of the charge before the court.
Counsel to Binance, Sunday Agaji, did not oppose the application.
Justice Nwite consequently adjourned the matter until September 24, 2026, for either a report of settlement or continuation of trial.
Binance was re-arraigned before the court on July 12, 2024, on a four-count charge bordering on alleged tax evasion.
The company’s Nigerian representative, Ayodele Omotilewa, took the plea on behalf of Binance and pleaded not guilty to all four counts.
The re-arraignment followed the discharge of two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, from the case.
Justice Nwite had, in a ruling delivered on June 14, 2024, struck out their names from the charge after the prosecution filed an amended charge listing Binance as the sole defendant.
The amended charge was dated June 13, 2024, and filed the following day.
Apart from the tax evasion proceedings, Binance is also facing a separate criminal case before the same judge.
In that matter, the Economic and Financial Crimes Commission is prosecuting the company over alleged money laundering involving $35.4 million.
Binance is also facing a civil suit before Justice Mohammed Umar of the Federal High Court, where the Nigeria Revenue Service is seeking $79.5 billion in damages over alleged economic losses linked to the company’s operations in Nigeria.
The September 24 adjournment means the tax evasion case will remain pending while parties continue discussions on a possible settlement.
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