Stakeholders in Nigerian cryptocurrency have encouraged Binance to identify the alleged bribe agent who wanted money from the exchange in order to resolve their issues with Nigerian authorities.
They said that identifying the individual will support their allegations.
Nigerian cryptocurrency stakeholders told CoinTelegraph that if the Binance bribery claim is not handled appropriately, it may have a detrimental impact on the nation’s reputation.
Rume Ophi, the executive secretary of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) stated that the body language of the Nigerian Securities and Exchange Commission suggested that the regulatory body wants to reach a middle ground with crypto entities in the country thereby allowing Crypto work in the country.
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However, the recent allegation by Binance on Nigerian authorities could jeopardize the way forward for the sector in Nigeria.
“If Binance is trying to make this government look bad and, in turn, create a negative ripple effect for crypto in the country, the stakeholders in Nigeria will not allow that.” She said
Ophi emphasized the need for Binance to be specific in its claims about the alleged attempted bribery in order to allow the Nigerian state to properly deal with the issue and save its image from potential international investors in the country.
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On May 7, Binance CEO Richard Teng officially commented on the ongoing spat between Nigerian authorities and Binance which led to the detention of Tigran Gambaryan, a Binance executive and former United States Internal Revenue Service agent who previously led Binance’s financial crime compliance team.
Binance CEO added that some individuals met his team recently demanding a bribe to settle their issues with the Nigerian state.
The allegations led to an outburst of reactions by Nigerians who were disappointed and ashamed by the alleged act by Nigerian authorities.
The news however raised some skepticism, Nathaniel Luz, the CEO of Flincap, a crypto exchange liquidity platform, expressed skepticism that any Nigerian official approached Binance for bribes.
Read Also: Court Adjourns Case Against Binance, Executives To May 17
However, Luz emphasized that naming specific individuals would help substantiate their claims.
In 2023, the Nigerian SEC declared that Binance wasn’t registered or regulated by the regulatory body thereby making their activities illegal.
Earlier this year the Central Bank of Nigeria’s Governor suspected activities on Binance citing illicit flow of funds on the platform. This led to a spat that saw two Binance executives detained and charged with money laundering and tax evasion.
The court case against Binance and its executives has been adjourned to May 17.
