In a stunning revelation, Binance CEO Richard Teng has come forward to claim that his executives, Tigran Gambaryan and Nadeem Anjarwalla, were targeted by individuals seeking a hefty cryptocurrency bribe.
This shocking incident allegedly occurred before their arrest in Nigeria on February 28, 2024. The crypto community is left reeling as more details of this scandalous demand come to light.
A renowned risk consultancy firm, SBM Intelligence, has revealed startling findings about the recent detainment of Binance officials and the shocking bribery accusations that followed. This development has sent shockwaves through the investment world, with experts warning of a detrimental impact on Nigeria’s economy.
Nigeria, Binance delegation
Embarking on a mission to pave the way for crypto in Nigeria, Gambaryan and his team from Binance set foot in the vibrant country in the midst of January. With determination and drive, they sought to engage in crucial discussions with Nigerian officials, delving into the complexities of crypto regulations and compliance.
On the 8th of May, a fiery battle erupted between Nigeria’s federal government and Teng as they traded accusations over Binance’s alleged bribery scandal. The government slammed the exchange and its CEO, accusing them of concocting the bribery claims in a desperate attempt to derail a criminal investigation.
Despite the rising popularity of cryptocurrencies among individual citizens for their investment and transaction potential, the Nigerian government stands firmly against them. SBM Intelligence reports that while citizens are embracing this digital trend, the government remains staunchly opposed.
Two months have passed since the Nigerian government detained two Binance executives, one of whom managed to escape. Rumor has it, he’s been jet-setting across the globe, wooing potential investors to the country.
Exclusive: Bitcoin falls from $66,000, but defiant CEO predicts 300% surge
Bitcoin price forecast: CryptoQuant CEO predicts $265K surge
However, it added that having foreign trade representatives could make it difficult for the country to attract investors. SBM added:
“No matter the allegations against Binance, it is essential to remember that the story of one foreign business will serve as a cautionary tale to others. If Nigeria is tagged as a country where company officials can be solicited for bribes and then detained indefinitely, convincing investors to invest will become exceedingly challenging.”
The consultancy firm dropped a bombshell, revealing that the ongoing saga of the Binance executives’ arrest is wreaking havoc on the Nigerian government. With utmost urgency, they stressed the need for a swift, just, and tactful resolution to ultimately benefit the Tinubu administration.