Binance, a major cryptocurrency platform, has accused high-ranking Nigerian government figures of soliciting a $150 million cryptocurrency bribe to resolve legal issues.
The Nigerian government recently intensified its crackdown on the cryptocurrency platform in efforts to stabilize the naira. Among the charges levied against Binance by the current administration were tax evasion, currency speculation, and money laundering, totaling $35.4 million.
CEO Richard Teng voiced the bribery allegation in a New York Times article published Tuesday. According to the report, compliance officer Tigran Gambaryan received a demand for the sum during a trip to Nigeria in January, interpreted as a bribe request from someone within President Bola Tinubu’s government.
Gambaryan, a former US law enforcement agent, perceived the demand as bribery amid meetings with Nigerian legislators, who accused Binance of tax violations and threatened employee arrests.
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The incident allegedly occurred before Gambaryan and colleague Nadeem Anjarwalla were detained by orders of National Security Adviser Nuhu Ribadu. Anjarwalla later escaped and was traced to Kenya, while Gambaryan has been held at Kuje Correctional Centre Abuja since April 8, facing charges of tax evasion and money laundering.
In response, the Office of the National Security Adviser’s spokesman Zakari Mijinyawa assured adherence to due process. Mijinyawa affirmed that the government would present its case based on evidence and facts, inviting Binance to similarly pursue legal recourse for justice.
