Binance CEO Alleges Nigeria Demanded Secret Deal From Detained Executive in January
Julia Smith
Last updated:
May 7, 2024 11:22 EDT
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2 min read
According to a recent blog post by Binance CEO Richard Teng, now detained Binance executive Tigran Gambaryan and representatives of the crypto exchange were reportedly pressured by a government official to accept a secret agreement to settle Nigeria’s claims against the exchange.
Teng revealed that Gambaryan and several Binance employees attended a meeting with members of Nigeria’s House Committee on Financial Crimes (HCFC) to discuss the issues at hand before a pre-investigative hearing involving the crypto exchange.
During the meeting, HCFC officials allegedly warned the Binance employees that they were ready to issue arrest warrants against them and prevent them from leaving the country.
After the meeting, as Binance employees were leaving, they were approached by unidentified individuals who offered to resolve the issues if they accepted a secret settlement.
According to The New York Times, this settlement was actually a $150 million bribe from someone within the Nigerian government.
“Our team grew increasingly concerned about their safety in Nigeria and immediately departed,” Teng stated. He also mentioned that Gambaryan and fellow Binance executive Nadeem Anjarwalla returned to Nigeria the following month for a meeting, despite the risks, and received assurances of safe passage.
However, Gambaryan and Anjarwalla were subsequently detained, with Anjarwalla escaping and being recaptured in Kenya weeks later.
The fate of the detained Binance executives remains uncertain. In other news, Nigeria has announced plans to delist the naira from peer-to-peer (P2P) platforms to prevent manipulation, citing the cryptocurrency sector as the reason for the crashing value of the nation’s currency.
Both Gambaryan and Anjarwalla have been charged with money laundering and tax evasion. They are scheduled to appear in court for a hearing on May 17.
