Binance CEO Accuses Nigerian Officials of Corruption

Binance’s Perspective

Binance CEO Richard Teng has denounced Nigerian authorities for allegedly abusing their power and mistreating Binance executives, including Tigran Gambaryan who remains in detention.

Teng claims that Binance proactively sought guidance from Nigerian regulators, but received no response. He alleges that in early 2024, Binance employees were offered a “settlement” in exchange for a cryptocurrency payment.

Nigeria’s Crackdown

In February, Gambaryan and another Binance executive were detained by Nigerian authorities and accused of financial crimes. Teng emphasizes Gambaryan’s efforts in combating finance crime and his assistance to law enforcement.

Dangerous Precedent

Teng argues that Nigeria’s detention of Gambaryan is a dangerous precedent for companies worldwide. He alleges that Nigerian authorities are using an innocent employee as leverage to control Binance.

Denial from Nigeria

Nigeria has denied Binance’s claims of bribery, stating that no settlement offer was made.