A Federal High Court in Abuja postponed the tax evasion case against Binance Holdings Limited on Tuesday. Justice Emeka Nwite set July 9 as the new hearing date.
Both the cryptocurrency exchange and the Federal Government are negotiating an out-of-court settlement. Lawyers for each side confirmed the talks were still underway.
Binance's counsel, Chukwuka Ikwuazom (SAN), informed the court about the ongoing discussions. Sunday Adaji, another lawyer representing the firm, added that engagement between parties continued.
Moses Ideho, a deputy director at the Federal Inland Revenue Service (FIRS), confirmed the government's position. He spoke on behalf of the prosecution.
Binance signaled its desire for an amicable resolution when the matter came before the court in March. The company has since maintained that approach.
Government lawyers charged Binance Holdings Limited on four counts in July 2024. They alleged the company evaded taxes in Nigeria.
Ayodele Omotilewa, Binance's Nigerian representative, pleaded not guilty on the company's behalf. Justice Nwite accepted the plea during the initial hearing.
Two executives initially faced charges alongside Binance. Tigran Gambaryan and Nadeem Anjarwalla were later removed after prosecutors amended the case.
In June 2024, Justice Nwite struck out their names from the charge. The ruling followed an amended complaint filed by the prosecution.
Binance also faces a separate money laundering trial. The Economic and Financial Crimes Commission (EFCC) accused the platform of laundering about $35.4 million.
Meanwhile, FIRS pursued a civil suit against the company. Justice Mohammed Umar heard that case, where the agency sought approximately $79.5 billion in damages.
