Nigerian parties insist on Binance disclosing the identity of the official involved in bribery.

Nigerian stakeholders in the cryptocurrency industry are urging Binance to disclose the identity of the individual who allegedly attempted to bribe the company and to provide evidence to support its claims. They believe that if the bribery allegation is not handled properly, it could have a negative impact on Nigeria’s reputation. Rume Ophi, the executive secretary of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), acknowledges that the government has shown willingness to support the crypto industry, but warns that Binance’s actions could tarnish the government’s image and harm the country’s crypto sector. Ophi stresses the importance of Binance providing specific details and identifying the individuals involved in the alleged bribery attempt, as this would help authorities address any wrongdoing and protect Nigeria’s reputation among international exchanges. Binance CEO Richard Teng has already explained the detention of Tigran Gambaryan, a former US Internal Revenue Service agent who previously worked for Binance’s financial crime compliance team, stating that unidentified individuals approached Binance employees and proposed payment to settle the allegations. Nathaniel Luz, the CEO of Flincap, a crypto exchange liquidity platform, expresses doubt that any Nigerian official approached Binance, but believes that naming specific individuals would help substantiate the company’s claim. The Nigerian SEC previously stated that Binance Nigeria was not registered or regulated by the commission, making its operations in Nigeria illegal. The Central Bank of Nigeria has also expressed suspicions of illicit transactions being conducted by crypto exchanges in the country, specifically mentioning “suspicious flows” of funds at Binance. As a result, the Nigerian House of Representatives Committee on Financial Crimes summoned Binance CEO Richard Teng to appear before the committee. The situation escalated further when Nigerian officials demanded actions from Binance, including delisting the Nigerian naira from its platform and providing detailed user information, leading to the detention of Gambaryan and his colleague Nadeem Anjarwalla.