Cryptocurrency platform, Binance, has accused some top government officials of demanding $150m in crypto to settle the criminal charge against the firm.
Recently, the Nigerian government cracked down on the cryptocurrency platform in a bid to strengthen the naira. Among other charges filed by the current administration against Binance were tax evasion, currency speculation, and money laundering to the tune of $35,400,000.
Binance Chief Executive Officer, Richard Teng, made the bribery allegation in a blog post published by the New York Times on Tuesday.
According to the NYT report, Tigran Gambaryan, a compliance officer with the exchange, claimed to have received an unsettling message on a trip to Nigeria in January.
“On a trip to Nigeria in January, Tigran Gambaryan, a compliance officer for the giant cryptocurrency exchange Binance, received an unsettling message: The company had 48 hours to make a payment of roughly $150 million in crypto,” the report said.
Gambaryan, a former United States law enforcement agent, said he understood the message as a request for a bribe from someone in President Bola Tinubu’s government.
“Mr. Gambaryan, a former U.S. law enforcement agent, understood the message as a request for a bribe from someone in the Nigerian government, according to five people familiar with the matter and messages reviewed by The New York Times. He and a group of his Binance colleagues had just met with Nigerian legislators, who accused the company of tax violations and threatened to arrest its employees.”
It was gathered that the incident allegedly took place before Gambaryan and a colleague, Nadeem Anjarwalla, were arrested and detained on the orders of the National Security Adviser, Nuhu Ribadu. Anjarwalla subsequently escaped and has been traced to Kenya.
Since April 8, Gambaryan has been transferred from a safe house to the Kuje Correctional Centre Abuja. Both Binance and Gambaryan are prosecuted by the Federal Government for tax evasion and money laundering.
In his response, the spokesman for the Office of the National Security Adviser, Zakari Mijinyawa, assured that the Federal Government will follow due process.
Mijinyawa, according to a text sent to New York Times said the government would make its case “on the strength of the facts and evidence, in accordance with due process.”
“We are confident that Nigeria has a good case. Binance equally will have every opportunity under the rule of law to make its case and see justice delivered,” Mijinyawa said.
Reps Refute Binance Bribery Claims
The House of Representatives has denied demanding a bribe from the Binance Group following a recent allegation by the cryptocurrency company.
This is as the House has also resolved to launch an investigation into the escape of the Binance Executive, Nadeem Anjarwalla, from the National Security Adviser’s custody in March.
Binance had on Tuesday stated that some unknown persons in Nigeria demanded huge payments in digital currency “to make their problems in the country go away”.
The company had pointed out that its representatives were approached after leaving a meeting with the House Committee on Financial Crimes.
However, the House of Representatives on Wednesday, denied demanding a bribe from the company.
The motion was championed by a member of the house representing Ohaozara/Onicha/Ivo Federal Constituency, Kama Nkemkanma.
Citing breach of privilege, the lawmaker asked the House to re-invite the company to ascertain the bribe claims.
Binance is facing a plethora of criminal charges in Nigeria after the Nigerian government recently cracked down on the cryptocurrency platform in a bid to strengthen the naira.
Among other charges filed by the current administration against Binance were tax evasion, currency speculation, and money laundering to the tune of $35,400,000.
The company’s executive, Anjarwalla had in March, escaped from the custody of the NSA, Nuhu Ribadu, according to a statement by its spokesman, Zakari Mijinyawa.
Anjarwalla is a suspect in the Federal Government’s ongoing probe into Binance activities in Nigeria.
Until his escape, Anjarwalla, who is both a British and Kenyan citizen, served as Binance Africa’s Regional Manager, and was facing trial over allegations bordering on tax evasion.
The suspect escaped while under a 14-day remand order by a court. He was scheduled to appear before it again on April 4, 2024.
After his escape, several media reports said the Kenyan authorities had apprehended him, a claim later denied by the country.
It would be recalled that the House of Representatives Committee on Financial Crimes, had in March, resolved to issue warrants of arrest against executives of the cryptocurrency platform, for failing to appear before it for an investigation.
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