Alex Omenye
The Nigerian government has filed a lawsuit against cryptocurrency exchange Binance, demanding $79.5 billion in damages for alleged economic losses and an additional $2 billion in back taxes, court documents revealed on Wednesday.
Authorities blame Binance, the world’s largest crypto exchange, for the country’s currency challenges, citing its platform as a key driver of naira volatility. The crackdown on the crypto industry led to the detention of two Binance executives in 2024.