Tuesday, July 22, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Binance CEO says Nigeria is detaining US exec as a control tactic, reveals bribe demands

Simon Osuji by Simon Osuji
May 7, 2024
in Crypto
0
Binance CEO says Nigeria is detaining US exec as a control tactic, reveals bribe demands
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Binance CEO Richard Teng has called for the release of Tigran Gambaryan, the exchange’s detained executive in Nigeria.

In an extensive May 7 blog post, Teng said Gambaryan’s detention was unjust and set a dangerous precedent. He said:

“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.”

Gambaryan is a US citizen who heads the crypto exchange’s financial crime compliance department. He and Nadeem Anjarwalla, Binance’s regional manager for Africa, were apprehended upon their arrival in Nigeria’s capital, Abuja, on Feb. 26. Anjarwalla escaped custody on March 22.

Teng pointed out that Gambaryan “did not go to Nigeria as a ‘decision-maker,’ nor a ‘negotiator.’ He was merely acting as a functional expert in financial crime and capacity building in policy discussions.”

He accused Nigeria of detaining the Binance employee as a part of efforts to exert control over the exchange.

According to Teng:

“The message from the Nigerian government is clear: we must detain an innocent, mid-level employee and a former US federal agent, and place him in a dangerous prison in order to control Binance.”

He concluded that Nigeria should “let Tigran go home to his family, and then Binance will work through the same process that we have done with Nigeria’s law enforcement community voluntarily more than 600 times in the past.”

Binance makes bribe allegations against Nigeria

In his blog post, Teng revealed that the exchange received requests from “unknown persons,” purporting to be representatives of Nigeria’s House Committee on Financial Crimes (HCFC), demanding a “significant payment in crypto to be paid in secret.”

Teng refrained from revealing further details regarding the amount requested.

The New York Times reported that an individual associated with the Nigerian government approached Gambaryan and asked for a bribe amounting to approximately $150 million in crypto.

However, Teng said the exchange declined the “payment demand” because it did not “view it to be a legitimate settlement offer.”

Mentioned in this article

Source link

Related posts

XRP hits new ATH of $3.55 after 7 years amid altcoin surge

Ethena launches StablecoinX as ENA climbs 8% and USDe supply crosses $6B

July 21, 2025
How a teen stole $243M in Bitcoin, then did it again on bail

How a teen stole $243M in Bitcoin, then did it again on bail

July 21, 2025
Previous Post

Met Gala Deepfakes Are Flooding Social Media

Next Post

‘ChatGPT, plan my top-secret mission’

Next Post
‘ChatGPT, plan my top-secret mission’

'ChatGPT, plan my top-secret mission'

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

AfDB, SEFA provide $40m investment in equity platform Zafiri to accelerate renewable energy access across Africa – EnviroNews

AfDB, SEFA provide $40m investment in equity platform Zafiri to accelerate renewable energy access across Africa – EnviroNews

1 day ago
Meet the OAA top young professionals and host Ayo Sokale

Meet the OAA top young professionals and host Ayo Sokale

5 months ago
Bloodbath: Joint Chiefs chair, CNO, Air Force vice chief, three top JAGs to be replaced

Bloodbath: Joint Chiefs chair, CNO, Air Force vice chief, three top JAGs to be replaced

5 months ago
Here’s Why XRP Could Hit an All-Time High in 2024

Here’s Why XRP Could Hit an All-Time High in 2024

2 years ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Tanzania’s natural gas sector goes global with Dubai deal

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.