A Nigerian judge has scheduled a trial for October to address allegations of tax evasion against Binance, a prominent cryptocurrency exchange.


The Nigeria Court has scheduled the commencement of a trial against Binance, a prominent cryptocurrency exchange, on October 11th. The presiding judge made this announcement on Friday, citing allegations of tax evasion against the company.

Binance is facing four counts of tax evasion, including failing to register with Nigeria’s Federal Inland Revenue Service for tax purposes. Similar charges against two of its executives were dropped on June 14, although they still face separate money laundering charges. Both executives deny these allegations.

Ayodele Omotilewa, a representative of Binance, appeared in court on Friday and entered a plea of not guilty to the four charges against him during a hearing presided over by Judge Emeka Nwite.

Binance refrained from providing an immediate response but has previously expressed its position that the charges should be dismissed.

Nigeria has attributed its currency challenges to Binance, as cryptocurrency platforms have emerged as preferred channels for trading the Nigerian naira amid persistent dollar shortages and a record low for the currency.