Nigeria denies “phantom” Binance bribe claims

Summary of Main Points:

  • Nigeria’s federal government denies bribery accusations made by Binance CEO Richard Teng.
  • Accusations suggest Nigerian officials demanded $150 million in cryptocurrency payments.
  • Binance faces criminal charges in Nigeria related to money laundering and terrorism financing.
  • Two Binance executives have been arrested and charged with criminal violations.
  • Binance ordered to delist the naira and submit data on local crypto users.

Nigeria’s Response to Allegations:

In response to Binance CEO Richard Teng’s claims of bribery, Nigeria’s federal government refuted the accusations, stating that they were made to undermine criminal prosecution. The government explicitly denied the $150 million cryptocurrency payment request alleged by Teng, calling it a diversionary tactic by Binance to avoid facing serious criminal charges in Nigeria.

Binance’s Legal Troubles in Nigeria:

Following Binance CEO Richard Teng’s blog post detailing the company’s issues with Nigerian authorities, it was revealed that the company is under investigation for alleged money laundering, terrorism financing, and foreign exchange manipulation through illegal trading. Two Binance executives, Tigran Gambaryan and Nadeem Anjarwall, have been arrested and charged with criminal violations. Gambaryan is awaiting trial, while Anjarwall was extradited from Kenya to Nigeria. As part of the crackdown on crypto trading in Nigeria, Binance was ordered to delist the naira from its platform and provide detailed information on local crypto users.

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