Justice Emeka Nwite adjourned the matter on Thursday after the Federal Government's counsel, Moses Ideho, told the court that both parties were still exploring an out-of-court settlement, the News Agency of Nigeria reports.

The Federal High Court in Abuja has further adjourned the alleged tax evasion case between the Federal Government and Binance Holdings Ltd to September 24 for a report of settlement.

Justice Emeka Nwite adjourned the matter on Thursday after the Federal Government's counsel, Moses Ideho, told the court that both parties were still exploring an out-of-court settlement, the News Agency of Nigeria reports.

The judge had earlier fixed Thursday's date on May 12, after lawyers for both Binance and the Federal Government informed the court that they were discussing settlement.

Binance had first sought an amicable resolution of the matter on March 24.