The cryptocurrency company Binance has reported that Nigerian government officials have allegedly demanded a $150 million bribe in cryptocurrency to settle criminal charges.
This occurrence comes in the wake of the Nigerian government's intensified crackdown on cryptocurrency platforms to bolster the local currency and combat fraudulent activities.
Several accusations, including tax evasion, currency speculation, and money laundering, totaling $35,400,000, have been leveled against Binance by the government. Richard Teng, the Chief Executive Officer of Binance, publicized the bribery claim in a blog post featured in the New York Times on Tuesday.
According to the New York Times report, Tigran Gambaryan, a compliance officer at Binance, disclosed receiving a disconcerting message while in Nigeria in January. The message, interpreted as a bribe request from a Nigerian government official, was perceived as unsettling by Mr. Gambaryan and his Binance colleagues in light of their previous meeting with Nigerian legislators who had accused the company of tax violations and threatened employee arrests.
Allegedly, this incident occurred just before the arrest and detention of Gambaryan and a colleague, Nadeem Anjarwalla, at the behest of the National Security Adviser, Nuhu Ribadu. Anjarwalla has since fled to Kenya after escaping from detention. LEADERSHIP also reported that Gambaryan has been relocated from a safe house to the Kuje Correctional Centre in Abuja as of April 8.
Both Binance and Gambaryan are facing prosecution by the Federal Government for tax evasion and money laundering.
In response, Zakari Mijinyawa, the spokesman for the Office of the National Security Adviser, affirmed that the Federal Government will adhere to due process. Mijinyawa assured that the government will present its case based on facts and evidence, in line with due process. He emphasized that Nigeria has a strong case and highlighted that Binance will have the opportunity to present its case and seek justice within the confines of the law.
We are now awaiting the progression of this case and the subsequent legal developments.