The Nigerian government has filed an $81.5 billion lawsuit against Binance claiming $2 billion in back taxes and $79 billion in economic damages for allegedly causing a crash in Nigeria's local currency.
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As reported by Reuters, Nigeria's Federal Inland Revenue Service (FIRS) has declared that Binance has a "significant economic presence" in the country and has unpaid taxes from 2022 and 2023.
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The FIRS is also seeking payment of 26.75% interest on the back taxes allegedly owed, claiming the platform played a key role in the devaluation of the Nigerian naira in the foreign exchange markets.