In a rebuttal against accusations of bribery levelled by
Binance Holdings Ltd, Nigeria has refuted claims made by the cryptocurrency
firm, dismissing them as a diversionary tactic. The West African nation has
been involved in a boisterous saga with Binance.
Binance’s Allegations of Bribery in
Nigeria
The rift deepened following a blog post penned by Binance’s
Chief Executive Officer, Richard Teng, alleging coercive demands for a
“secret” payment to resolve issues within Nigeria. Teng’s revelation
ignited a firestorm, casting a shadow over the already strained relationship
between Binance and Nigerian authorities.
The alleged bribery attempts purportedly occurred during a
meeting between Binance representatives and Nigerian officials in Abuja earlier
this year. Teng claimed that Binance staff were accosted by unidentified
individuals post-meeting, soliciting a significant cryptocurrency payment
within 48 hours to ostensibly quell criminal allegations.
Binance Says It Was Asked for ‘Secret’ Payment Over Nigeria Woes.“As our employees were leaving the venue, they were approached by unknown persons who suggested to them to make a payment in settlement of the allegations” — Binance CEO, Richard Teng.Later that day, Binance’s… pic.twitter.com/exeWlbEF9g
— Instablog9ja (@instablog9ja) May 7, 2024
“Teng made false allegations of bribery against unidentified
Nigerian government officials who he claimed demanded $150 million in
cryptocurrency payments to resolve the ongoing criminal investigation against
the company,” the Ministry of Information spokesman Rabiu Ibrahim said. “This
claim by Binance CEO lacks any iota of substance. It is nothing but a
diversionary tactic.”
Binance Employee Detained in Nigeria Faces Multiple Charges
Tigran Gambaryan, a Binance employee, remains in custody
facing charges of tax evasion, currency speculation, and money laundering,
following his colleague’s escape. The trial for Gambaryan is set to commence
this month, adding fuel to the ongoing legal skirmish.
Binance’s entanglement with Nigerian authorities is further
complicated by the detention of two of its employees and the subsequent ban on
its operations in the country. Despite assurances of safe passage, Gambaryan
and his colleague, Nadeem Anjarwalla, found themselves promptly arrested upon
their return to Nigeria in late February.
This article was written by Tareq Sikder at www.financemagnates.com.
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