Binance CEO Richard Teng has leveled a bribery allegation against some Nigerian officials amid the exchange’s recent issues in Nigeria.
Teng in a recent statement alleged that Binance was contacted by some “unknown persons” claiming to be representatives of Nigeria’s House of Committee on Financial Crimes (HCFC) to pay a certain crypto payment in secret to settle its issues.
“However, as our employees were leaving the venue, they were approached by unknown persons who suggested to them to make a payment in settlement of the allegations.”
While the exchange CEO didn’t reveal details of the amount, reports suggest that it may be up to $150 million. According to the New York Times, a Nigerian Government official asked the exchange to pay $150 million in crypto within 48 hours.
However, Teng disclosed that the exchange declined the payment as it didn’t seem like a legitimate settlement offer.
“We, of course, declined the payment demand via our counsel, not viewing it to be a legitimate settlement offer, and clarified that we would engage in settlement negotiations on the following conditions.”
The allegations come amid the exchange’s recent issues with Nigerian authorities. In February, Nigeria detained two Binance executives Nadeem Anjarwalla and Tigran Gambaryan. Notably, the charges against the exchange and its executives include money laundering and tax evasions, among others.
Reacting to the arrest of the exchange’s executive, Teng described it as a bad precedent for the country.
“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.”
Meanwhile, Teng’s allegation also coincides with the Government’s ongoing clampdown on cryptocurrency platforms. Over the past few months, the Federal Government has taken several steps to limit crypto’s influence on the country’s currency. These actions include ordering telcos to limit access to crypto websites, alongside recent plans to delist Naira from P2P platforms.
