Nigerian stakeholders in the cryptocurrency industry are urging Binance to disclose the identity of the person who attempted to bribe the exchange and provide evidence to support its claims. They believe that if this allegation is not handled properly, it could have a negative impact on Nigeria’s reputation in the crypto sector. Rume Ophi, the executive secretary of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), acknowledged the government’s willingness to support the crypto industry, but cautioned against Binance tarnishing the government’s image. Ophi emphasized the importance of Binance revealing specific details and identifying individuals involved in the alleged bribery attempt, as this would enable authorities to take appropriate action and protect Nigeria’s reputation among international exchanges. Binance CEO Richard Teng recently explained the detention of Tigran Gambaryan, a former IRS agent who worked for Binance, stating that unidentified individuals approached the exchange’s employees with a proposal for payment to settle the allegations. Nathaniel Luz, CEO of Flincap, expressed skepticism about any Nigerian official approaching Binance but suggested that naming specific individuals would help validate Binance’s claim. In 2023, the Nigerian SEC stated that Binance Nigeria was operating illegally as it was not registered or regulated by the commission. The Central Bank of Nigeria also raised concerns about crypto exchanges in Nigeria being involved in illicit transactions, specifically pointing to suspicious fund flows at Binance. The Nigerian House of Representatives Committee on Financial Crimes summoned Binance CEO Richard Teng to appear before the committee to address these suspicions. As a result of the demands made by Nigerian officials, Binance detained Gambaryan and his colleague Nadeem Anjarwalla.
Stakeholders in Nigeria call for Binance to disclose the identity of the official involved in bribery.