The judge adjourned the matter after the prosecution lawyer told the court that the parties were still exploring reconciliation.
The Federal High Court in Abuja on Thursday further adjourned the alleged tax evasion case filed by the federal government against Binance Holdings Ltd until 24 Spetember for a report of settlement.
Judge Emeka Nwite adjourned the matter after the prosecution lawyer, Moses Ideho, told the court that the parties were still exploring reconciliation.
The News Agency of Nigeria (NAN) reports that Mr Nwite had, on May 12, fixed Thursday for the report of settlement.
The judge had fixed the date after the prosecution and Binance’s defence lawyers informed the court that the parties were discussing settling the case out of court.
On 24 March, the cryptocurrency company sought an amicable resolution of the matter.
Earlier, when the case was called, Ideho, a Deputy Director of Legal and Prosecution from the Federal Inland Revenue Service (now Nigeria Revenue Service), said the matter was set for a report of settlement or continuation of trial.
The lawyer, however, said that the case cannot not go on for two reasons.
“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,” he said.
Mr Ideho said the second reason was that “parties were still exploring settlement in the charge that led to this case.”
Sunday Agaji, Binance’s lawyer, did not oppose the application and Judge Nwite adjourned the matter until 24 September for a report of settlement or continuation of trial.
On12 July 2024, the prosecution re-arraigned Binance Holdings Limited on four charges of tax evasion.
The Nigerian representative of Binance, Ayodele Omotilewa, who was docked, took a plea on behalf of the company before Judge Nwite.
He pleaded not guilty to the four counts.
The re-arraignment before the judge followed the discharge of the cryptocurrency firm’s executive, Tigran Gambaryan, and his fleeing colleague, Nadeem Anjarwalla, from the alleged offence.
Justice Nwite, in a ruling on 14 June 2024, discharged and struck out Gambaryan and Anjarwalla’s names from the charge after Ideho filed an amended charge wherein Binance is listed as sole defendant.
The amended charge was dated 13 June 2024, but filed 14 June 2024.
NAN reports that the Economic and Financial Crimes Commission (EFCC) is also prosecuting the cryptocurrency company on allegations bordering on money laundering offences before the same judge.
The anti-graft agency accused Binance of money laundering to the tune of $35.4 million.
Binance is also facing another civil suit before Justice Mohammed Umar, of the federal high court, where the FIRS is praying for $79.5 billion over economic losses allegedly caused by the company’s operations in Nigeria.
(NAN)
