Binance Holdings Limited, one of the world’s largest cryptocurrency exchanges, has asked the Federal High Court in Abuja to dismiss a lawsuit filed by the Nigerian government demanding $81 billion in damages and unpaid taxes. The case, brought by the Federal Inland Revenue Service (FIRS), accuses Binance of failing to register for tax compliance and causing significant economic losses during its operations in Nigeria. The lawsuit, marked FHC/ABJ/CS/1444/2024, seeks $79.5 billion for alleged economic damages and $2 billion in unpaid income taxes for 2022 and 2023. It also includes penalties such as a 10% fine for non-payment of taxes and a 26.75% annual interest rate based on the Central Bank of Nigeria’s lending rate. The government claims Binance deliberately concealed its business activities despite having a “significant economic presence” in the country. At the latest court hearing on Monday, Binance’s legal counsel, Chukwuka Ikwuazom SAN, argued that the substituted service used to deliver court documents was invalid. Substituted service is a legal method of delivering documents through alternative means when direct service fails. However, Ikwuazom contended that proper procedures for serving defendants outside jurisdiction were not followed, rendering the service invalid. He further noted that the email address provided by FIRS for substituted service did not belong to any Binance employee. The presiding judge, Justice Inyang Ekwo, adjourned the case to April 30 to allow FIRS time to respond to Binance’s motion. Meanwhile, FIRS has maintained its stance that Binance violated Nigerian laws by failing to register for tax purposes and contributing to economic instability. In addition to this lawsuit, Binance is facing separate charges of tax evasion, money laundering, and foreign exchange violations in Nigeria. These cases are being heard by Justice Emeka Nwite in another Federal High Court proceeding.
Trump extends TikTok deadline by 75 days
President Donald Trump has once again postponed the deadline for TikTok to be sold or face a ban in the United States. In a post on his Truth Social platform on Friday, Trump announced he was signing an executive order to extend the deadline by an additional 75 days. The decision comes just one day before the previous deadline was set to expire on April 5, 2025. This marks the second time Trump has delayed the ban, following an initial 75-day extension granted in January. “My Administration has been working very hard on a Deal to SAVE TIKTOK, and we have made tremendous progress,” Trump stated. “The Deal requires more work to ensure all necessary approvals are signed, which is why I am signing an Executive Order to keep TikTok up and running for an additional 75 days.” The extension allows more time for negotiations between ByteDance, TikTok’s Chinese parent company, and potential U.S. buyers. Several companies and consortiums have expressed interest in acquiring TikTok’s U.S. operations, including Amazon, AppLovin, and a group led by Oracle. Trump emphasized the importance of reaching a deal that addresses national security concerns while keeping the popular app available to millions of American users. “We do not want TikTok to ‘go dark.’ We look forward to working with TikTok and China to close the Deal,” he added. The president also linked the TikTok negotiations to broader trade discussions with China, mentioning reciprocal tariffs as a tool for achieving “Fair and Balanced Trade.” For now, TikTok’s 75 million American users can continue using the app while its fate remains uncertain.
Natasha Akpoti defies curfew, lands in Kogi by helicopter, accuses leaders of intimidation
Suspended Senator Natasha Akpoti-Uduaghan made a bold return to her constituency in Kogi Central on Tuesday, defying a curfew and restrictions imposed by the state government. Arriving by helicopter in Okehi Local Government Area, she was greeted by a massive crowd of supporters who had gathered despite the ban on public gatherings. The curfew, declared earlier by Okehi LGA Chairman Amoka Eneji, aimed to prevent potential security breaches during the senator’s planned Sallah homecoming. Authorities had warned against political rallies and gatherings, citing concerns over peace and order. However, Akpoti-Uduaghan dismissed these directives, insisting that her visit was a celebration with her community and not a political rally. Speaking to her supporters, she reaffirmed her connection to her roots, stating, “Nobody and nothing can stop me from coming home. I’m an Ebira person; this is my land.” She also accused key political figures, including Governor Usman Ododo and Senate President Godswill Akpabio, of intimidation tactics. Akpoti-Uduaghan’s return comes amid her six-month suspension from the Senate for alleged rule violations and ongoing tensions with the ruling All Progressives Congress (APC).
High cost of CNG conversion hindering adoption in Nigeria, says Ogun Governor
Ogun State Governor, Dapo Abiodun, has raised concerns over the high cost of converting vehicles and machinery to run on Compressed Natural Gas (CNG), describing it as a significant obstacle to widespread adoption in Nigeria. Speaking at the third edition of the Chemical Handlers and Users Workshop organized by the State Ministry of Environment in Abeokuta, Governor Abiodun stressed the need for greater investment in clean energy solutions to reduce pollution and promote environmental sustainability. Represented by his deputy, Noimot Salako-Oyedele, the governor highlighted the importance of transitioning to cleaner energy sources like CNG but acknowledged that financial and technical barriers are slowing progress. He noted that as of May 2024, only 131 CNG conversion centers existed across the country, with Ogun State having a relatively high concentration. “Concerns over conversion costs, refueling infrastructure, and technical expertise remain major barriers to adopting CNG,” Abiodun said. To tackle these challenges, the Ogun State government is partnering with private investors to provide financing options and expand CNG infrastructure. The governor also pointed out that Ogun has been utilizing CNG for its commercial transport system since 2022, even before fuel subsidies were removed, demonstrating its commitment to clean energy solutions. Ogun State has been at the forefront of environmental sustainability efforts through programs such as the Waste-to-Resource Revolution and the Electric Mobility Leadership Program. These initiatives aim to promote cleaner energy alternatives and reduce dependence on fossil fuels. The state’s Commissioner for Environment, Ola Oresanya, echoed this sentiment during the workshop, urging stakeholders, including chemical handlers, industry players, and farmers, to adopt clean energy technologies and embrace circular economy practices. “We urge all stakeholders to prioritize environmental compliance and work together to build a legacy of sustainability that fosters economic growth and improves public health for future generations” – Oresanya CNG is derived from natural gas and burns cleaner than traditional fossil fuels, significantly reducing harmful emissions. Despite its environmental benefits, adoption has been slow due to financial constraints faced by industries, farmers, and public transport operators. A recent report revealed that many vehicle owners are reluctant to switch to CNG because of inadequate refueling infrastructure and limited space in their vehicles after conversion. The federal government has introduced several initiatives to ease adoption, including free vehicle conversions at select locations and credit schemes for businesses interested in making the transition. However, experts warn that unless financial and technical barriers are addressed comprehensively, many industries and individuals may struggle to embrace this cleaner energy alternative.
Benue State initiates comprehensive five-day training program to equip 40,000 civil servants with e-governance skills
The governor of Benue state has launched a five-day digital training program aimed at equipping 40,000 civil servants and local government staff with essential e-governance and ICT skills. The training, held in Makurdi, the state capital, is designed to enhance service delivery, improve transparency, and prepare the workforce for a digitally-driven future. During the program’s inauguration, Governor Alia highlighted the importance of embracing technology in governance. “These initiatives are empowering people, enhancing transparency, and embracing the possibilities of a digitally-driven economy while fostering a future-ready civil service that adapts to a rapidly evolving world,” he said. The event also saw the unveiling of four key e-governance platforms: Electronic Document Management System (EDMS): A tool for efficient document processing, storage, and retrieval within government ministries. Benue State Geographic Information Systems (BENGIS) Portal: A platform to streamline land management services and reduce bureaucratic delays. Benue Youth Startup and Innovation Support Portal: A hub to nurture entrepreneurship through mentorship opportunities and financial support. Office of Benue Head of Service Website: A website aimed at improving communication and information sharing within the civil service. The Managing Director of Benue Digital Infrastructure Company (BDIC), Terwase Hembaor Gbande, highlighted the state’s commitment to technological growth. He pointed out previous initiatives such as partnering with Microsoft Corporation to train 10,000 youths on ICT skills and establishing the Benue Fashion and ICT Hub. This latest effort complements another major partnership between Benue State and Google to train an additional 10,000 youths in ICT. The collaboration aims to empower young people with skills needed to thrive in Nigeria’s growing digital economy. Representatives from national agencies like NITDA, Galaxy Backbone Ltd., and the National Data Protection Commission praised the initiative. Moses Agbogbo Ode, Head of Benue State Civil Service, emphasized that transitioning from analogue to digital operations will improve efficiency and service delivery across government institutions.
Ondo State revolutionizes tax collection with new digital platform
Ondo State is set to launch a digital platform designed to streamline tax collection and other government-related payments. This innovative initiative, spearheaded by Governor Lucky Aiyedatiwa, aims to enhance revenue generation, improve accountability, and promote ease of doing business in the state. The platform, developed in partnership with BBA Consult Ltd., assigns each taxpayer a unique identification number linked to their personal profile, ensuring confidentiality and accessibility only to the individual taxpayer. It promises to eliminate bottlenecks associated with manual payments, offering seamless transactions across various sectors. Governor Aiyedatiwa emphasized that the platform will not only simplify tax payments but also significantly boost revenue, which will be directed toward critical infrastructure projects. He assured residents and businesses of the platform’s security, ease of use, and long-term economic benefits. This aligns with broader efforts to harmonize tax administration and optimize revenue collection, reflecting a national push toward enhancing fiscal policies. The platform serves as a one-stop shop for multiple government-related payments, including commerce, land, and education fees, further consolidating Ondo State’s position as a leader in innovative tax solutions.