Binance Holdings Limited on Tuesday sought an amicable resolution of the ongoing tax evasion charge filed against it by the federal government.

The development was made known by the company’s counsel, Sunday Agaji, before Justice Emeka Nwite of the Federal High Court, Abuja Division.

The federal government’s lawyer, Moses Ideho, a deputy director in the legal department of the Federal Inland Revenue Service (now the Nigeria Revenue Service), also confirmed the move.

When the matter was called, Mr Ideho told the court that although the trial was scheduled to continue, the defence lawyer had informed him earlier that morning that Binance had approached the service to explore an out-of-court settlement.

Responding, Mr Agaji corroborated Mr Ideho’s statement.

“My lord, parties are actually exploring settlement. That is essentially where we are,” he said.

After listening to the lawyers, Mr Nwite adjourned the matter until May 12 for a settlement report.

The fourth prosecution witness testified on the last adjourned date.

Binance Holdings Limited was rearraigned on a four-count charge bordering on tax evasion on July 12, 2024.

Ayodele Omotilewa, the Nigerian representative of Binance, took a plea on behalf of the company before Mr. Nwite.

He pleaded not guilty to the four counts.

The re-arraignment before the judge followed the discharge of the cryptocurrency firm’s executive, Tigran Gambaryan, and his colleague, Nadeem Anjarwalla, who fled, from the alleged offence.

Mr Nwite, in a ruling on June 14, 2024, discharged and struck out Messrs Gambaryan and Anjarwalla’s names from the charge after Mr Ideho filed an amended charge listing Binance as the sole defendant.

The amended charge was dated June 13, 2024, but filed June 14, 2024.

The Economic and Financial Crimes Commission is also prosecuting the cryptocurrency company on allegations bordering on money laundering offences before the same judge.

The anti-graft agency accused Binance of laundering $35.4 million.

Besides, Binance is also facing another civil suit before Justice Mohammed Umar, a sister judge, in which the FIRS is seeking about $79.5 billion for economic losses allegedly caused by the company’s operations in Nigeria.

(NAN)