Nigerian judge sets Binance tax evasion trial for October

ABUJA, July 12 (Reuters) – A Nigerian court will begin a
trial against cryptocurrency exchange Binance over tax evasion
charges on Oct. 11, the judge hearing the case said on Friday.

Binance faces four counts of tax evasion, including failure
to register with Nigeria’s Federal Inland Revenue Service for
tax purposes. Similar charges against two of its executives were
dropped on June 14, though they still face separate money
laundering charges. They both deny those allegations.

Binance representative Ayodele Omotilewa was in the dock on
Friday and pleaded not guilty to the four charges at a hearing
before Judge Emeka Nwite.

Binance had no immediate comment but has said in the past
that the charges should be dropped.

Nigeria has blamed Binance for its currency woes after
cryptocurrency websites became the platforms of choice for
trading the Nigerian naira as the country struggled with chronic
dollar shortages and its currency fell to a record low.

(Writing by Elisha Bala-Gbogbo; Editing by Emelia
Sithole-Matarise)