📰 Table Of Contents
Binance Executives Pressured by Nigerian Officials
Recently, Binance CEO Richard Teng revealed in a blog post that detained Binance executive Tigran Gambaryan and other representatives of the crypto exchange were allegedly pressured by a government official to accept a secret agreement to settle Nigeria’s claims against the exchange.
Meeting with Nigerian Officials
According to Teng, Gambaryan and several Binance employees attended a meeting with members of Nigeria’s House Committee on Financial Crimes (HCFC) to discuss the issues at hand ahead of a pre-investigative hearing involving the crypto exchange.
During the meeting, HCFC officials allegedly warned the Binance employees about potential arrest warrants and restrictions on leaving the country.
Alleged Bribery Attempt
After the meeting, the Binance employees were reportedly approached by unknown individuals offering to make the issues disappear in exchange for accepting a secret settlement. This settlement was revealed to be a $150 million bribe from a Nigerian government official.
Detention and Legal Charges
Following subsequent meetings in Nigeria, Gambaryan and fellow Binance executive Nadeem Anjarwalla were detained. Anjarwalla later fled but was reportedly recaptured in Kenya. Both executives are facing charges of money laundering and tax evasion.
Current Situation
The fate of the detained Binance executives remains uncertain as they are scheduled to appear in court for a hearing on May 17. Meanwhile, Nigeria has announced plans to delist the naira from P2P platforms to prevent manipulation amid economic challenges.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.