The available records do not permit a responsible conclusion.
Nigerian authorities charged Binance with tax offences and, with a detained executive, with money laundering in 2024.
- Claim made by
- Associated Press, press report
- Published
- 24 October 2024
- Evidence score
- 58 How it was scored
- Last reviewed
- 25 October 2026
Why this label
AP reported on 24 October 2024 that the Economic and Financial Crimes Commission ended the money laundering case against Binance's head of financial crime compliance for diplomatic reasons and that he was releasedS5. AP reported that prosecutors alleged laundering of up to US$35 million, which Binance and the executive deniedS5. Reuters reported on 2 May 2025 that the Federal Inland Revenue Service sought US$79.5 billion in economic losses and US$2 billion in back taxesS4. A News Agency of Nigeria report of 9 July 2026 said the tax case was adjourned to 24 September 2026 for a report on settlement talks, and that the EFCC money laundering case against Binance and the tax authority's civil suit were separate and pendingS6. No ruling, later report or court record was found. The allegations against the company are untested.
Current procedural position
Charges against the executive withdrawn on 23 October 2024S5. Tax case against Binance adjourned on 9 July 2026 to 24 September 2026 for a report on settlement. EFCC money laundering case against Binance pendingS6. No ruling or later report found as of October 2026.
Record supporting the assessment
taking into consideration some critical international and diplomatic reasons
tax evasion case against the world's largest crypto exchange
parties were still exploring settlement in the charge that led to this case
Conflicting or limiting record
working with Nigeria's Federal Inland Revenue Service to resolve potential historic tax liabilities
Evidence score: 58 of 100
The score grades how well the record establishes this assessment. It is not a score of Binance Holdings Limited. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.
| Component | Points | Max | Reason |
|---|---|---|---|
| Source authorityIs the source competent to establish the proposition? | 15 | 30 | The record rests on wire service reports, not court documents. |
| DirectnessDoes the source state the proposition or only discuss adjacent facts? | 14 | 20 | The reports describe the charges and the withdrawal. |
| CorroborationDo independent records support the same material point? | 10 | 15 | AP, Reuters and a Nigerian agency report agree on the cases. |
| Procedural accuracyDoes the record settle the procedural state the claim describes? | 4 | 15 | The case against the company is pending. |
| CurrencyHas the record been checked against later developments? | 7 | 10 | The latest report read is from July 2026. Nothing later was found. |
| ReproducibilityCan a reader locate the passage and repeat the assessment? | 8 | 10 | Both reports are public. |
| Total | 58 | 100 |
Timeline
Related cases
- Nigerian prosecutors and the Federal Inland Revenue Service v. Binance Holdings LimitedFederal High Court, Abuja. Criminal. Not published.Stage: Tax case and EFCC money laundering case against Binance pending, with settlement talks reported. Charges against the executive withdrawnS5S6
Responses
- Binance Holdings Limited, 2 May 2025: Binance said it was working with the tax authority to resolve potential historic tax liabilities, as reported by Reuters.S4
Revision history
- Assessment first published with label Unresolved.
Have a record that changes this assessment? See corrections and responses.
Sources
- S5Tier C Nigeria releases American crypto executive after dropping money laundering caseAssociated Press, via ABC News (Chinedu Asadu and Eric Tucker). Press report. 24 October 2024.Reports the withdrawal of charges against the executive and the remaining tax case. It is not a court record.
- S4Tier C Nigerian judge adjourns Binance tax evasion case to May 12Reuters, via TimesLive. Press report. 2 May 2025.Reports the tax claim and adjournment and Binance's stated position. It is not a court record.Link working, checked 25 October 2026
- S6Tier C Court adjourns tax evasion suit against BinancePremium Times (News Agency of Nigeria report). Press report. 9 July 2026.Agency report on the July 2026 adjournment for settlement talks and the separate EFCC and tax authority cases. No reporter is named. The cases it describes are corroborated by AP and Reuters.Link working, checked 25 October 2026
Other claims about Binance Holdings Limited
- Supported92The US Department of Justice said on 21 November 2023 that Binance pleaded guilty to anti-money laundering, unlicensed money transmitting and sanctions violations and agreed to pay over US$4 billion.Regulator statement, 21 November 20233 records citedMoney laundering
- Supported94Binance's founder Changpeng Zhao, who pleaded guilty in November 2023 and was sentenced to four months in prison, received a US presidential pardon in October 2025.Official report, 21 October 20253 records citedCorporate status
- Outdated89The SEC charged Binance, two Binance.US entities and Binance's founder in June 2023 with violating US securities laws.Regulator statement, 5 June 20233 records citedMarket conduct