Binance Holdings Ltd., the world’s premier cryptocurrency exchange, has openly declared that officials from President Bola Tinubu government demanded a significant cryptocurrency bribe payment to settle legal disputes.
The company also reiterated its call for the liberation of their detained employee in Nigeria.
In a recent blog post, CEO Richard Teng detailed these allegations, providing insight into the interactions between Binance and the Nigerian authorities. These interactions reached a peak during a meeting in Abuja on January 8, where Binance was confronted with criminal charges.
Teng disclosed that following a meeting with Nigerian legislators, the Tinubu administration allegedly requested a large payment of bribe from the company to quash recent fraud allegations. It remains uncertain whether the lawmakers directly solicited these alleged bribes, but Binance revealed the sum to the New York Times.
Binance’s executives, including Teng, vehemently deny the allegations, underlining their illegality and vowing to oppose any illegal demands.
“Nigerian authorities demanded a significant cryptocurrency payment within 48 hours, under the cloak of secrecy, in an attempt to resolve these issues,” Teng stated in the blog post on Binance’s website.
He further added, “The Nigerian government’s message is clear: detain an innocent employee and a former U.S. federal agent, confining them to a dangerous prison, to gain leverage over Binance.”
According to the company, the alleged bribe was to be transferred into a secret crypto account on Binance’s exchange.
Despite the intense pressure, Binance confirmed to Peoples Gazette its refusal to succumb to ransom demands.
The Nigerian national security agency and parliamentary spokespersons did not respond to requests for comments.
Binance has been entangled in a prolonged legal battle with Nigeria since the February arrest of Tigran Gambaryan, a company official. National security adviser Nuhu Ribadu linked the detention to allegations of devaluing the Nigerian naira and other acts of economic sabotage.
Binance categorically denies these allegations, with another detained official managing to escape custody shortly after the arrest.
In the meantime, Gambaryan is still caught up in legal proceedings in Abuja, while his family is seeking U.S. intervention for his release, maintaining his innocence.
This article delves into the intensifying conflict between Binance and Nigerian authorities, illuminating the exchange’s stance against alleged bribery and its pursuit of justice for its detained employee.
