Nigeria, March 25 -- The federal government of Nigeria on Monday initiated criminal proceedings against Binance, a leading cryptocurrency exchange platform.

The Federal Inland Revenue Service (FIRS) on Monday announced the charges filed at the Federal High Court in Abuja.

In a statement signed by Dare Adekanmbi, the special adviser on media to the executive chairman of the FIRS, the charges accused Binance of four counts of tax evasion.

Joining Binance in the lawsuit, with number FHC/ABJ/CR/115/2024, are Tigran Gambaryan and Nadeem Anjarwalla, both senior executives of the exchange.

Among the charges levelled against Binance are allegations of non-payment of Value-Added Tax (VAT), Company Income Tax, failure to file tax returns, and c...