As a researcher with experience in the Nigerian cryptocurrency market, I believe that the allegations of bribery against Binance by local stakeholders are a serious matter that needs to be addressed transparently. The potential negative impact on Nigeria’s image if not handled properly is a valid concern.
Nigerian cryptocurrency community members are insisting that Binance discloses the identity of the representative who offered them bribes. They believe that this disclosure will strengthen their claims.
Local crypto figures expressed concern to CryptoMoon that unproven bribery accusations against Binance might harm the nation’s reputation if mishandled.
Based on Rume Ophi’s interpretation, the Securities Exchange Commission (SEC)’s gestures and actions during the May 6 meeting indicated a readiness from the Nigerian government to foster the growth of the cryptocurrency sector.
Ophi issued a warning that Binance’s involvement could harm the government’s reputation and negatively impact Nigeria’s cryptocurrency industry.
“If Binance is trying to make this government look bad and, in turn, create a negative ripple effect for crypto in the country, the stakeholders in Nigeria will not allow that.”
Ophi underscored the importance of Binance revealing detailed information regarding the alleged bribery incidents. He stressed that naming the individuals involved would strengthen their claim and allow authorities to take appropriate action, safeguarding Nigeria’s reputation among international exchanges considering entering the Nigerian market for business transactions.
On May 7, Richard Teng, CEO of Binance, gave a detailed account of the situation surrounding Tigran Gambaryan, a former IRS agent and previous head of Binance’s financial crime compliance unit, who is currently being detained.
Teng asserted that mysterious figures approached the employees of the exchange, offering compensation to resolve the accusations.
Nathaniel Luz, the head of Flincap – a crypto exchange liquidity company – voiced doubt over allegations that any Nigerian authorities sought bribes from Binance. Yet, he stressed the importance of identifying particular individuals to support such accusations.
In the year 2023, the Securities and Exchange Commission of Nigeria announced that Binance Nigeria had not obtained its registration or authorization. Consequently, Binance’s activities within the Nigerian territory were deemed unlawful.
On February 27th, the governor of the Central Bank of Nigeria expressed concerns over cryptocurrency exchanges in Nigeria, specifically mentioning Binance, for allegedly processing suspicious financial transactions.
With mounting concerns over Binance’s suspected illegal activities in Nigeria, the Nigerian House of Representatives Financial Crimes Committee summoned Binance CEO Richard Teng to testify before them no later than March 4.
Nigerian authorities put pressure on Binance, requesting steps like removing the naira from their system and disclosing comprehensive user data. As a result, Gambaryan and Anjarwlla were arrested.
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2024-05-08 15:21