The Nigerian government has started legal action against Binance, a popular cryptocurrency exchange, for allegedly evading taxes.

The Federal Inland Revenue Service (FIRS) filed charges against Binance at the Federal High Court in Abuja. The lawsuit accuses Binance, along with two senior executives, of four counts of tax evasion.

According to a statement from FIRS, the aim of the legal action is to ensure tax compliance and protect Nigeria's economy. Binance is accused of not paying Value-Added Tax (VAT), Company Income Tax, and failing to file tax returns. Additionally, Binance is alleged to have helped customers evade taxes through its platform.

The government also claims that Binance failed to register for tax purposes and violated existing tax regulations. One of the charges relates to Binance's failure to collect and remit taxes as required by law.

The statement highlights specific instances where Binance allegedly broke tax laws, including not issuing invoices for VAT purposes. It emphasizes that any company doing business in Nigeria above a certain threshold must pay taxes.

In summary, the Nigerian government alleges that Binance violated tax laws and could face penalties and legal action as a result.