Loss of $ 79.5 billion: Binance asks the court to set aside orders for document services

Cryptocurrency platform, Binance Holdings Limited, on Monday asked the Federal High Court, Abuja, to put aside the orders of the former party provided by the Federal Inland Revenue Services (FIRS) for substituted services from all court documents.

Binance’s lawyer, Chukwuka Ikwuazom (San), made a call after the problem was called on Monday.

He told the court that a motion had been proposed for effects on Friday.

He argues that court regulations for such services have not been met before the order is made.

Previously, advisors to Fir, Head of Kanu Agabi (San), told the court that Binance served them with a motion that tried to empty orders for substituted services on Monday morning.

Agabi, however, expressed his readiness to respond to applications.

Also read: Nigeria Govt Slamming a New $ 81.5BN lawsuit against Binance on Taxes, Economic Losses

Judge Ekwo said the copy of the motion was not in the court file, and Ikwuazom, who apologized to the court, said the application was submitted on Friday.

The judge postponed the problem until April 30 to allow FIR to respond appropriately.

Judge Ekwo on February 11 gave a leave to FIR to serve the original calls and documents that accompanied him at the cryptocurrency company through a replaced method by sending a process through the email address: [email protected].

The agency has dragged Binance and its executives, Tigran Garangyan and Nadeem Anjarwalla, to court for losses of $ 79.5 billion allegedly caused by their operations in Nigeria.

In a marked origin call: FHC/ABJ/CS/1444/2024, date and submitted September 30, 2024, FIRS urged the court to determine whether the defendant was not responsible for paying annual company income taxes to the federal government because it had a significant economic presence in Nigeria since 2022.

The Sister Court, led by Judge Emeka Nwite in October 2024, released Gepangaryan after the federal government withdrew the money laundering accusations submitted against him and the company by the Economic and Financial Crime Commission (EFCC).

Anjarwalla, who was detained with Gepangbary for tax avoidance and other violations, fled from legal detention on March 22, 2024.

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