A representative from the global cryptocurrency leader, Binance, claimed that Nigerian government officials attempted to extort $150 million in bribes from the company.
- A representative from the global cryptocurrency leader, Binance, claimed that Nigerian government officials attempted to extort $150 million in bribes from the company.
- Binance had been given 48 hours to make a payment of roughly $150 million in crypto.
- The CEO of the global cryptocurrency exchange platform has criticized Nigeria for setting a concerning precedent.
According to the New York Times, Binance had been given 48 hours to make a payment of roughly $150 million in crypto.
Binance, along with two of its executives, is presently facing trials on charges of tax evasion and money laundering. However, the company is actively contesting these allegations.
What the CEO of Binance said:
“A significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away,” Mr Teng wrote in a blog post.
“The message from the Nigerian government is clear,” the Binance’s chief executive added. “We must detain an innocent, mid-level employee and a former U.S. federal agent, and place him in a dangerous prison in order to control Binance.”
The CEO of the global cryptocurrency exchange platform has criticized Nigeria for setting a concerning precedent.
Teng stated in a release that it was important to voice opposition to the detention of Tigran Gambaryan, a U.S. citizen and Binance's head of financial crime compliance.
"To invite a company's mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide," Teng said.
He stressed that Gambaryan should be permitted to return home while Binance and Nigerian authorities work to address any concerns.
"We will continue engagement with Nigeria's Federal Inland Revenue Service (FIRS) on resolving potential historic tax liabilities," he said.
Zakari Mijinyawa, a spokesman for Nigeria’s national security adviser, said in a text that the Nigerian government would make its case “on the strength of the facts and evidence, in accordance with due process.”
“We are confident that Nigeria has a good case,” Mr. Mijinyawa said. “Binance equally will have every opportunity under the rule of law to make its case and see justice delivered.”
