The Federal High Court in Abuja has scheduled November 12, 2025, to deliver its ruling on Binance Holdings Limited’s motion to nullify what it described as an “improper substituted service” in the $81 billion tax and economic loss suit filed against it by the Federal Inland Revenue Service (FIRS).
Justice Umar Mohammed fixed the date after listening to arguments from Binance’s counsel, Chukwuka Ikwuazom (SAN), and S.E. Maliki, who represented the FIRS.
The FIRS is demanding over $79.5 billion and ₦231 million from Binance for alleged economic losses caused by its operations in Nigeria, alongside $2 billion in unpaid income taxes for 2022 and 2023.
The tax authority also seeks a 10% penalty for non-payment of income tax and 26.75% annual interest, corresponding to the Central Bank of Nigeria’s prevailing lending rate.
The FIRS, represented by Kanu Agabi (SAN), accused Binance and two executives — Tigran Gambaryan and Nadeem Anjarwalla — of failing to register with Nigerian tax authorities despite maintaining a “significant economic presence” in the country.
When efforts to serve Binance directly proved unsuccessful, the FIRS requested — and obtained — an order for substituted service from Justice Ekwo. The order allowed the agency to serve court documents through an email address allegedly belonging to Binance’s General Counsel, Eleanor Hughes.
However, Binance’s legal team challenged the process, arguing that substituted service on a foreign entity requires certification from the relevant foreign authority confirming that direct service attempts had failed.
Ikwuazom further told the court that the email used by the FIRS did not belong to any Binance official, calling the entire process “invalid and liable to be set aside.”
In its counter-affidavit filed on April 14, the FIRS maintained that Binance’s claim was “false and misleading.” Litigation officer Ishaya Isuwa stated that Binance lacked a registered office in the Cayman Islands but continued to operate actively in Nigeria’s financial ecosystem.
He also affirmed that Eleanor Hughes is indeed Binance’s General Counsel and has previously corresponded with Nigerian regulators, making the substituted service legitimate.
At the resumed hearing, Ikwuazom urged the court to nullify the earlier ex parte order granting substituted service, while Maliki insisted the service complied with the law and should stand.
Justice Mohammed, after hearing both sides, adjourned the matter until November 12 for ruling.
Broader Legal Context
This case is one of several ongoing legal battles between Binance and Nigerian authorities. The cryptocurrency giant is also facing separate charges of tax evasion, money laundering, and foreign exchange violations before Justice Emeka Nwite, in a case jointly filed by the FIRS and the Economic and Financial Crimes Commission (EFCC).
Binance has denied all allegations, maintaining that it complies with applicable laws in every jurisdiction where it operates.
The court’s upcoming decision is expected to clarify the legality of substituted service procedures involving foreign digital entities conducting business in Nigeria.