Nigerian stakeholders urge Binance to disclose identity of corrupt official involved in bribery

Nigerian stakeholders in the cryptocurrency industry are urging Binance to disclose the identity of the individual who attempted to bribe the company and provide evidence to support its claims. They believe that if handled improperly, this bribery allegation could have a negative impact on Nigeria’s reputation in the crypto sector. Rume Ophi, the executive secretary of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), acknowledged the government’s willingness to support the crypto industry but warned against Binance tarnishing Nigeria’s image. Ophi stressed the importance of Binance revealing specific details and identifying the individuals involved in the alleged bribery attempt. This would help substantiate the claim and allow authorities to address any wrongdoing, thereby safeguarding Nigeria’s reputation for international exchanges interested in doing business in the country. Binance CEO Richard Teng recently provided an explanation regarding the detention of Tigran Gambaryan, a former IRS agent who previously worked for Binance. Teng claimed that unidentified individuals approached Binance employees and offered payment to settle the allegations. Nathaniel Luz, CEO of Flincap, expressed doubts about Nigerian officials approaching Binance but emphasized the need for Binance to name specific individuals to support its claim. The Nigerian SEC previously stated that Binance Nigeria was not registered or regulated by them, making its operations illegal. The Central Bank of Nigeria also raised concerns about crypto exchanges handling illicit transactions, specifically mentioning suspicious fund flows at Binance. The Nigerian House of Representatives Committee on Financial Crimes called Binance CEO Richard Teng to appear before them, which led to the detention of Gambaryan and his colleague Nadeem Anjarwalla.