The Federal High Court in Abuja has fixed November 12 for ruling on a motion filed by Binance Holdings Limited seeking to nullify the substituted service of court documents served on it by the Federal Inland Revenue Service (FIRS).
Justice Mohammed Umar fixed the date after lawyers representing both parties adopted their processes and argued the application on Wednesday.
The FIRS had dragged Binance, alongside its executives Tigran Gambaryan and Nadeem Anjarwalla, to court, demanding $79.5 billion in alleged economic losses resulting from the company’s operations in Nigeria.
The suit, marked FHC/ABJ/CS/1444/2024, was filed by Chief Kanu Agabi (SAN) on behalf of the FIRS. The agency is asking the court to determine whether Binance is liable to pay corporate income tax to the Federal Government under the Companies Income Tax Act and the Significant Economic Presence Order 2020.
The case, originally before Justice Inyang Ekwo, was later reassigned to Justice Umar after the court had earlier granted FIRS leave to serve the company by email—via Eleanor-huges@binance.com
—since Binance has no physical presence in Nigeria.
However, Binance’s counsel, Chukwuka Ikwuazom (SAN), asked the court to set aside the order, arguing that the service by email was invalid because the company is registered and resident in the Cayman Islands. He maintained that, under the Federal High Court Rules, service on a foreign company must be done through its registered office or principal officers, and only after leave of court is granted to serve outside jurisdiction.
The FIRS, in its counter affidavit deposed to by Ishaya Isuwa, a litigation officer, opposed Binance’s motion, describing its claims as “false and misleading.” The agency argued that Binance’s registration and residence remain “shrouded in secrecy” and insisted the company has a significant economic presence in Nigeria.
FIRS also contended that Eleanor Hughes, whose email was used for the service, is Binance’s General Counsel and a principal officer who had previously communicated officially with Nigerian authorities and appointed Aluko & Oyebode as the company’s legal representatives in the country.
According to the FIRS, Binance had already received notice of the suit and instructed its lawyers to appear in court, demonstrating valid service. The agency urged the court to dismiss the motion, arguing that no miscarriage of justice occurred.
Justice Umar adjourned the matter to November 12 for ruling.
