Richard Teng, the CEO of Binance, a major cryptocurrency platform said Tuesday, via a blog post, that Nigerians in the corridor of power sought payment in crypto so as to find a solution to the ongoing “battle” between the firm and the Government of Nigeria.
The disclosure follows the arrest of two top Binance officials by the Nigerian government on February 28. Nadeem Anjarwalla and Tigran Gambaryan were detained as part of a probe into purported unlawful activities and manipulation of forex rates.
Teng accused the Nigerian Government of ignoring their requests for a dialogue, and failure to present reasons for allegations which further puts the fairness of of the whole process in question.
“There were a number of reasons for that, including the sensitivity of the information and getting the opportunity to see the allegations in full and prepare a thorough substantive response,” Teng said.
“The meeting ended with the Chair confirming they would consider the matter and revert through Binance’s local counsel.
“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,” he added.
“Later that day, our local counsel — representing us at that time — was summoned by the Committee through someone purporting to be their agent, who relayed the Committee’s terms and instructed our local counsel to advise us.
“Counsel reported back that he had been presented with a demand for a significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away and that our decision was expected by the morning.
“Our team grew increasingly concerned about their safety in Nigeria and immediately departed.”
He revealed that his firm failed to agree to the request due to its illegitimacy, and they’ve only vowed to to be a party to any settlement which “must be official, recorded in writing, and signed by all relevant parties”.
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