Nigeria Counters Binance’s Bribery Claim, Asserts Lack of Credibility
Nigeria has responded strongly to Binance Holdings’ allegation of bribery, stating that it is a mere diversionary tactic aimed at deflecting attention from the exchange’s own actions. The Nigerian government issued this statement in response to Binance CEO Richard Teng’s recent blog post, in which he accused a Nigerian government official of pressuring crypto representatives to accept a secret agreement. The agreement, according to Teng, was intended to settle the Nigerian government’s claims against the exchange.
The Ministry of Information spokesman, Rabiu Ibrahim, dismissed Teng’s allegations as baseless, asserting that they lack any substance. He further characterized them as an attempt at blackmail and a diversionary tactic. Ibrahim emphasized that Binance should not resort to fictional claims and media campaigns, but rather submit itself to an unbiased investigation and judicial due process in order to resolve the ongoing issues.
Binance has not responded to Cryptonews’ request for comment as of press time.
Threats and Secret Deals
Teng claimed that Nigeria’s House Committee on Financial Crimes (HCFC) had threatened to arrest Binance employees and prevent them from leaving the country. Following the HCFC meeting, unidentified individuals allegedly approached Binance employees, offering to resolve the situation through a secret payment. The New York Times reported that this $150 million “settlement” originated within the Nigerian government.
Detention and Restricted Access
The conflict between Binance and the Nigerian government began on February 26 when executives Tigran Gambaryan and Nadeem Anjarwalla traveled to Abuja to address the ongoing dispute. However, both Gambaryan and Anjarwalla were detained in Nigeria for two weeks in March without any justifiable reasons. Subsequently, they faced charges of money laundering and tax evasion. While Anjarwalla managed to escape, he was recaptured in Kenya in late April, nearly 3,000 miles away.
In an effort to curb capital outflows and address concerns about illegal money transfers, Nigeria’s government had instructed telecoms in the country to block access to Binance and other cryptocurrency exchanges. The government believes that these exchanges are contributing to the devaluation of the Nigerian currency, the naira, and exacerbating the nation’s financial problems.
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