Binance Bribery Allegations: ‘Nothing like that has Ever Happened,’ says HoR Speaker

In a recent development, the Nigerian House of Representatives has vehemently refuted claims of soliciting bribes from Binance, a prominent cryptocurrency platform. This denial comes in response to assertions made by Binance that unidentified individuals in Nigeria demanded significant payments in digital currency to resolve purported issues within the country.

The controversy surrounding Binance escalated following the detention of two senior executives by the federal government on February 28. Among those detained were Nadeem Anjarwalla, Binance’s regional manager for Africa, and Tigran Gambaryan, the company’s head of financial crime compliance, both facing allegations related to illegal operations and foreign exchange rate manipulations.

Addressing the matter, Richard Teng, CEO of Binance, conveyed the company’s frustration over the lack of specific details regarding the allegations. Despite repeated requests for clarification, Binance claims to have received no substantial information, prompting inquiries into the possibility of submitting written responses in lieu of a public hearing.

According to Teng, during a meeting with the House Committee, discussions concluded with an agreement for further consideration of the matter. However, following the meeting, individuals purportedly approached Binance representatives, suggesting a monetary settlement to resolve the allegations. Subsequently, the company’s local counsel was allegedly summoned and instructed to convey terms from the Committee.

In response to these allegations, Kama Nkemkanma, a representative from Ebonyi state, raised a “point of privilege” during a plenary session, vehemently denying any engagement between the House and Binance, let alone any solicitation of bribes. Nkemkanma emphasized the gravity of the accusation, asserting its potential to tarnish the reputation of the House and calling for a swift and decisive response.

In his ruling on the matter, Speaker Tajudeen Abbas underscored the need for the House to utilize all available channels to refute the allegations, emphasizing that no such engagement or demand for bribes has ever occurred. Abbas affirmed the House’s commitment to upholding its integrity and vowed to address the issue with the seriousness it deserves.