Binance CEO: Nigerian Officials Allegedly Requested Bribe

The post narrates the attempts by Binance executives to engage with Nigerian authorities, including a meeting in Abuja on January 8, before they faced accusations of criminal activities.

Richard Teng, the CEO of Binance, a renowned cryptocurrency exchange, has alleged that unidentified individuals requested a bribe in cryptocurrency from Binance executives Tigran Gambaryan and Nadeem Anjarwalla. This incident occurred prior to their detention on February 28, 2024.

Teng disclosed this in a blog post published on Tuesday on Binance's official website.

The post narrates the attempts by Binance executives to engage with Nigerian authorities, including a meeting in Abuja on January 8, before they faced accusations of criminal activities.

Teng mentioned that the meeting was organized with the Nigerian government through a committee comprising about "30 agencies," which stressed the seriousness of the meeting and their readiness to issue arrest warrants and impose travel restrictions on Binance's team.

However, it was later discovered that the committee did not have the actual authority to issue arrest warrants. The meeting was subsequently rescheduled to January 11, 2024, according to Teng.

"The meeting concluded with the Chair stating they would deliberate on the matter and respond via Binance's local counsel. Yet, as our employees were exiting the venue, they were approached by unidentified individuals who suggested a payment to settle the allegations," Teng explained.

"On the same day, our local counsel, who was representing us, was contacted by someone claiming to be an agent of the Committee, conveying the Committee's terms and instructing our counsel to inform us. Our counsel reported a demand for a substantial payment in cryptocurrency, to be made secretly within 48 hours to resolve the issues, and awaited our decision by the next morning.

"Our team's concern for their safety in Nigeria grew, prompting their immediate departure," he added.

Teng confirmed that the request for payment was rejected through their counsel, as it was not considered a legitimate settlement offer.

Daily Trust reported the detention of two senior Binance executives by Nigerian officials. Anjarwalla, a British-Kenyan and Binance's regional manager for Africa, and Gambaryan, a U.S. citizen and Binance's head of financial crime compliance, had traveled to Nigeria following the country's crackdown on cryptocurrency trading platforms.

During their visit, they were detained by the Office of the National Security Adviser (ONSA), and their passports were seized.

On March 24, ONSA released a statement confirming that Anjarwalla had escaped from lawful custody. The Federal Government is now in discussions with Interpol to secure an international arrest warrant for Anjarwalla and facilitate his extradition to Nigeria.

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