{"id":21897,"date":"2025-02-20T10:57:29","date_gmt":"2025-02-20T10:57:29","guid":{"rendered":"https:\/\/metaverseplanet.net\/blog\/?p=21897"},"modified":"2025-12-29T11:46:40","modified_gmt":"2025-12-29T11:46:40","slug":"nigeria-sues-binance-for-81-5-billion-heres-why","status":"publish","type":"post","link":"https:\/\/metaverseplanet.net\/blog\/nigeria-sues-binance-for-81-5-billion-heres-why\/","title":{"rendered":"Nigeria Sues Binance for $81.5 Billion: Here&#8217;s Why"},"content":{"rendered":"\n<p>The <strong>Nigerian government<\/strong> has filed a lawsuit demanding <strong>$81.5 billion<\/strong> from the cryptocurrency exchange <strong>Binance<\/strong>. It has also alleged that the company was operating in the country <strong>without a license<\/strong>.<\/p>\n\n\n\n<p>The world\u2019s largest <strong>cryptocurrency<\/strong> platform, <strong>Binance<\/strong>, is facing a <strong>major lawsuit<\/strong> in <strong>Nigeria<\/strong>. The government has filed a lawsuit seeking <strong>$79.5 billion<\/strong> in <strong>economic losses<\/strong> from the platform. Additionally, it has demanded <strong>$2 billion<\/strong> as a <strong>retrospective tax<\/strong>, bringing the total claim to <strong>$81.5 billion<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Binance has also been accused of operating illegally in Nigeria<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"820\" height=\"492\" src=\"https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2025\/02\/Nigeria-Sues-Binance-for-81.5-Billion.jpeg\" alt=\"Nigeria Sues Binance for $81.5 Billion: Here's Why\" class=\"wp-image-21898\" srcset=\"https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2025\/02\/Nigeria-Sues-Binance-for-81.5-Billion.jpeg 820w, https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2025\/02\/Nigeria-Sues-Binance-for-81.5-Billion-300x180.jpeg 300w, https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2025\/02\/Nigeria-Sues-Binance-for-81.5-Billion-768x461.jpeg 768w, https:\/\/metaverseplanet.net\/blog\/wp-content\/uploads\/2025\/02\/Nigeria-Sues-Binance-for-81.5-Billion-150x90.jpeg 150w\" sizes=\"(max-width: 820px) 100vw, 820px\" \/><\/figure>\n\n\n\n<p>Tensions arose between the two sides as <strong>Nigerian authorities<\/strong> blamed <strong>Binance<\/strong> for the <strong>depreciation of the local currency<\/strong>. Officials, who believe <strong>Binance<\/strong> is responsible for the country\u2019s <strong>economic problems<\/strong>, have now filed a <strong>lawsuit<\/strong> for this reason. Previously, measures were taken to <strong>block the platform<\/strong> in the country.<\/p>\n\n\n\n<p>Additionally, the <strong>Federal Inland Revenue Service (FIRS)<\/strong>, Nigeria\u2019s tax authority, stated that <strong>Binance<\/strong> is <strong>unlicensed<\/strong> and therefore <strong>operates illegally<\/strong> in the country. Instead of imposing a fine, authorities have made <strong>a direct legal accusation<\/strong>. The <strong>FIRS<\/strong> had also filed a <strong>lawsuit<\/strong> in <strong>March 2025<\/strong>, accusing the company of <strong>failing to pay income tax<\/strong> and <strong>not filing tax returns<\/strong>.<\/p>\n\n\n\n<p>It is still too early to determine how this <strong>legal battle<\/strong> between <strong>Binance<\/strong> and the <strong>Nigerian government<\/strong> will unfold. The outcome remains to be seen in the future.<\/p>\n\n\n\n<ul class=\"wp-block-latest-posts__list wp-block-latest-posts\"><\/ul>","protected":false},"excerpt":{"rendered":"<p>The Nigerian government has filed a lawsuit demanding $81.5 billion from the cryptocurrency exchange Binance. It has also alleged that the company was operating in the country without a license. The world\u2019s largest cryptocurrency platform, Binance, is facing a major lawsuit in Nigeria. The government has filed a lawsuit seeking $79.5 billion in economic losses &hellip;<\/p>\n","protected":false},"author":1,"featured_media":14637,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAown96uCw:productID":"","footnotes":""},"categories":[309],"tags":[71,317],"class_list":["post-21897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-web3new","tag-binance-news-and-content","tag-crypto-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts\/21897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/comments?post=21897"}],"version-history":[{"count":0,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/posts\/21897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/media\/14637"}],"wp:attachment":[{"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/media?parent=21897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/categories?post=21897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metaverseplanet.net\/blog\/wp-json\/wp\/v2\/tags?post=21897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}