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Nigeria Demands Binance Pay $81B Penalty

Nigeria escalates its regulatory war on Binance.
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Feb 19, 2025 • 1 min read

Nigerian prosecutors have charged Binance with violating tax laws and are demanding an $81 billion penalty, DL News reports.

What’s the Scoop?

  • Massive Penalty: Nigeria's Federal Inland Revenue Service claims economic losses of over $79 billion plus a $2 billion tax fine against Binance.
  • Ongoing Legal Battles: This is the third criminal case against Binance in Nigeria. The exchange also faces charges of facilitating $35 million in money laundering.
  • Global Reaction: The case gained international attention after the detention of Binance executives in Nigeria. One executive was released after intervention from the U.S. government.

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