title: Nigeria — Legal & Litigation | World Payments Monitor canonical: https://payments.gi/jurisdictions/nigeria/w7/ publisher: Asymmetric Intelligence ### W7 Legal & Litigation Probable confirmed 2026-06-23 The headline payments-adjacent litigation is the Nigerian state's enforcement campaign against Binance: a February 2025 dispute and FIRS tax-evasion charges, the detention of Binance executives over alleged FX manipulation, and Binance's subsequent disabling of naira services. ISA 2025 expanded SEC enforcement powers (administrative cautions, liens on bank accounts, asset seizure and forfeiture for illegal capital-market operations). The CBN has historically used court-ordered account freezes against fintechs over FX/crypto activity, and BOFIA 2020 criminalises conducting financial business without authorisation. Standing sub-brief · as of 26 June 2026 157 words #### Legal & Litigation The dominant litigation thread is Nigeria's enforcement campaign against Binance, which includes a February 2025 dispute and a reported US$81.5bn lawsuit over alleged currency devaluation, FIRS tax-evasion charges over unpaid VAT and corporate income tax, detention of Binance executives over alleged FX manipulation, and Binance's subsequent disabling of naira services. ISA 2025 expanded SEC enforcement powers to include administrative cautions, liens on bank accounts, and asset seizure and forfeiture. The campaign signals aggressive state action against unlicensed crypto and FX intermediation, and the new enforcement powers raise the stakes for non-compliant VASPs. WPM carries only the litigation and enforcement-precedent angle here. The illicit-finance, FX-manipulation and sanctions-evasion dimensions of the Binance matter are routed to the Financial Integrity Monitor; original illicit-finance analysis is not performed in this module. #### Outlook The litigation environment is escalating, with ISA 2025's expanded enforcement toolkit raising the precedent risk for crypto and FX intermediaries operating outside the SEC authorisation perimeter. no periodic updates on record for this sub-brief ** Sources and findings (4)** 1. T3 [https://breet.io/blog/is-cryptocurrency-legal-in-nigeria](https://breet.io/blog/is-cryptocurrency-legal-in-nigeria) retrieved 2026-06-23 2. T3 [https://breet.io/blog/is-cryptocurrency-legal-in-nigeria](https://breet.io/blog/is-cryptocurrency-legal-in-nigeria) retrieved 2026-06-23 3. T3 [https://www.ainvest.com/news/nigeria-sec-introduces-stablecoin-regulations-2025-act-policy-shift-2507/](https://www.ainvest.com/news/nigeria-sec-introduces-stablecoin-regulations-2025-act-policy-shift-2507/) retrieved 2026-06-23 4. T3 [https://breet.io/blog/is-cryptocurrency-legal-in-nigeria](https://breet.io/blog/is-cryptocurrency-legal-in-nigeria) retrieved 2026-06-23