Stakeholders Demand Binance to Expose Bribe Agent’s Identity

Cryptocurrency stakeholders in Nigeria are calling on Binance, a leading global cryptocurrency exchange, to reveal the identity of the individual who allegedly approached them with a bribe. They argue that by disclosing this information, it would provide evidence to support their claims. According to Rume Ophi, executive secretary of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the Securities Exchange Commission (SEC) has shown a willingness to support the crypto industry. Ophi warns that Binance’s alleged actions could harm the government’s reputation and negatively impact the crypto sector in Nigeria. He insists that Binance must provide specific details and identify those involved in the bribery attempt. This would allow authorities to investigate and address any wrongdoing, safeguarding Nigeria’s image in the eyes of international exchanges looking to do business in the country.

On May 7, Binance CEO Richard Teng addressed the ongoing detention of Tigran Gambaryan, a former United States Internal Revenue Service agent who previously worked for Binance’s financial crime compliance team. Teng claimed that unidentified individuals approached Binance employees and offered payment to settle the bribery allegations. Nathaniel Luz, CEO of Flincap, a crypto exchange liquidity platform, expressed doubt that any Nigerian officials approached Binance for bribes. Luz believes that naming specific individuals would provide credibility to the stakeholders’ claims.

In 2023, Nigeria’s Securities and Exchange Commission stated that Binance Nigeria was operating illegally as it was not registered or regulated by the commission. On February 27, the governor of the Central Bank of Nigeria alleged that crypto exchanges in Nigeria were involved in illicit transactions, pointing to suspicious money flows at Binance. The situation escalated when the Nigerian House of Representatives Committee on Financial Crimes summoned Binance CEO Richard Teng to appear before the committee by March 4. Nigerian officials demanded actions from Binance, including delisting the naira from their platform and providing detailed user information. This ultimately led to the detention of both Gambaryan and Anjarwalla.

The cryptocurrency stakeholders in Nigeria are concerned about the impact of Binance’s alleged actions on the country’s reputation and the crypto industry as a whole. They believe that if Binance truly wants to work with the Nigerian government, it should cooperate fully and disclose the identities of those involved in the bribery attempt. By doing so, authorities can address any potential wrongdoing and protect Nigeria’s image in the eyes of international exchanges. This ongoing controversy highlights the challenges and complexities faced by the cryptocurrency industry in Nigeria and the importance of transparency and accountability in such dealings.

4 thoughts on “Stakeholders Demand Binance to Expose Bribe Agent’s Identity

  1. Binance’s lack of cooperation with Nigerian authorities raises serious concerns about their integrity. They need to provide specific details and aid in the investigation.

  2. Transparency benefits everyone involved. Binance, by revealing the identity, you can demonstrate your commitment to the interests of Nigeria and build trust in the crypto sector.

  3. Let’s work together to safeguard Nigeria’s image and ensure a prosperous future for the crypto sector. Binance, it’s time to unveil the truth and move forward with integrity.

  4. This controversy highlights the need for ethical practices and accountability in the crypto industry. Binance, step up and be a role model for others to follow.

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