Stakeholders in the cryptocurrency industry have called on Binance to reveal the identity of the government officials who asked for bribes.
The stakeholders also demanded that Binance provide evidence of its bribery claims.
Local crypto stakeholders told Cointelegraph that the bribery allegation from Binance could negatively affect the country’s image if not handled properly.
The Executive Secretary of the Stakeholders in Blockchain Technology Association of Nigeria, Rume Ophi, claimed that the body language of the representative of the Nigerian Securities and Exchange Commission during a May 6 meeting showed the government’s willingness to make the crypto industry work.
However, Ophi warned about the potential damage Binance could cause to the government’s reputation and Nigeria’s crypto industry.
He stressed the importance of Binance disclosing specific details, urging the “identification of individuals involved in the alleged bribery attempt to substantiate the claim and enable authorities to address any wrongdoing, thus safeguarding Nigeria’s image for international exchanges.”
On May 7, Binance CEO, Richard Teng provided a detailed explanation regarding the detention of Tigran Gambaryan, a former IRS agent who led Binance’s financial crime compliance team.
Teng stated that unidentified individuals approached Binance employees and proposed payment to settle the allegations.
The CEO of Flincap, Nathaniel Luz, expressed doubt about any Nigerian official approaching Binance but suggested that naming specific individuals would help validate its claim.
In 2023, the Nigerian SEC declared Binance Nigeria’s operations illegal, stating it was neither registered nor regulated. On Feb. 27, the Central Bank of Nigeria governor raised concerns about crypto exchanges handling illicit transactions, particularly citing “suspicious flows” at Binance.
The situation escalated when Nigerian officials demanded actions from Binance, including delisting the Nigerian naira and providing detailed user information, resulting in the detention of Gambaryan and Nadeem Anjarwalla.
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