rewrite this title Nigeria Sues Binance for $81.5 Billion: Here’s Why – Metaverseplanet.net

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’s largest cryptocurrency platform, Binance, is facing a major lawsuit in Nigeria. The government has filed a lawsuit seeking $79.5 billion in economic losses from the platform. Additionally, it has demanded $2 billion as a retrospective tax, bringing the total claim to $81.5 billion.

Binance has also been accused of operating illegally in Nigeria

Tensions arose between the two sides as Nigerian authorities blamed Binance for the depreciation of the local currency. Officials, who believe Binance is responsible for the country’s economic problems, have now filed a lawsuit for this reason. Previously, measures were taken to block the platform in the country.

Additionally, the Federal Inland Revenue Service (FIRS), Nigeria’s tax authority, stated that Binance is unlicensed and therefore operates illegally in the country. Instead of imposing a fine, authorities have made a direct legal accusation. The FIRS had also filed a lawsuit in March 2025, accusing the company of failing to pay income tax and not filing tax returns.

It is still too early to determine how this legal battle between Binance and the Nigerian government will unfold. The outcome remains to be seen in the future.

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