The Federal Government has reaffirmed its commitment to prosecuting the criminal case against cryptocurrency platform Binance and its officials, dismissing allegations of bribery as false and unfounded.
Speaking on behalf of the government, top officials of the President Bola Tinubu administration denounced the accusation that individuals demanded a $150 million bribe in cryptocurrency to settle the criminal charges against Binance as baseless.
The allegation surfaced following a report by the New York Times, which revealed that Binance’s compliance officer, Tigran Gambaryan, received a demand for payment in cryptocurrency, interpreted as a bribe request from someone in the Nigerian government.
Gambaryan, a former United States law enforcement agent, reported the incident before being detained alongside his colleague, Nadeem Anjarwalla, on charges of tax evasion and money laundering. Anjarwalla subsequently fled and has been traced to Kenya, while Gambaryan remains in custody at Kuje Correctional Facility.
The trial of Binance and Gambaryan, initially scheduled to commence last Thursday, was postponed until May 17. Gambaryan reportedly provided a detailed report of the payment request to Binance’s lawyers and alerted contacts within the Nigerian government.
Despite Binance’s claims of receiving assurances about Gambaryan’s safety if he returned to Nigeria, prosecutors remain steadfast in pursuing the case. Ekele Iheanacho, one of the lawyers prosecuting Binance officials, dismissed the bribery allegations, vowing to prosecute the case to its conclusion.
While the Attorney-General of the Federation’s office directed inquiries to the information minister and the Presidency, senior officials challenged Binance CEO Richard Teng to reveal the identities of those allegedly involved in the bribery attempt.
In response to the allegations, civil society organizations called for transparency and urged Teng to name the individuals or organizations involved. They emphasized the importance of thorough investigation and prosecution to uphold Nigeria’s integrity and deter corruption.