THE Federal Government on Tuesday vowed to pursue the criminal case against the crypto platform, Binance, and its officials, to a logical end.
Speaking against the backdrop of a bribery allegation made by the Binance Chief Executive Officer, Richard Teng, in a blog post published by the New York Times, top officials of the President Bola Tinubu administration described as false and unfounded the accusation that some individuals demanded $150m bribe in cryptocurrency to settle the criminal charge against the firm.
The ew York Times on Tuesday reported that on a trip to Nigeria in January, Tigran Gambaryan, a compliance officer with the exchange, received an unsettling message: The company had 48 hours to make a payment of roughly $150m in crypto.
Gambaryan, a former United States law enforcement agent, understood the message as a request for a bribe from someone in the Nigerian government.
The incident allegedly occurred before Gambaryan and a colleague, Nadeem Anjarwalla, were arrested and detained on the orders of the National Security Adviser. Anjarwalla subsequently escaped and has been traced to Kenya.
Gambaryan has been held in Kuje Correctional Facility in the last four weeks, after he was transferred there from a safe house on April 8.
Both Binance and Gambaryan are facing trial for tax evasion and money laundering.
Their trial was scheduled to begin last Thursday, but the court postponed it until May 17.
Gambaryan reportedly wrote a three-page report describing the payment request and gave it to Binance’s lawyers, two people familiar with the report told ew York Times.
The spokesman for the ONSA, Zakari Mijinyawa, said in a text message to ew York Times that the Federal Government would make its case “on the strength of the facts and evidence, in accordance with due process.”
“We are confident that Nigeria has a good case. Binance equally will have every opportunity under the rule of law to make its case and see justice delivered,” Mijinyawa said.
Also, a prosecutor with the Economic and Financial Crimes Commission, Ekele Iheanacho, dismissed Teng’s allegation, vowing to prosecute the case to the end.
Iheanacho, one of the lawyers prosecuting the Binance officials, said, ‘’Nobody demanded any money, the case is being taken to a logical conclusion. He’s making it up although I am not aware of any such allegations. As far as I am concerned, the charges are going on and we are making every effort to ensure that we get to a logical end.’’
The Media Adviser to the Attorney-General of the Federation, Kamarudeen Ogundele, directed inquiries to the information minister and the Presidency.
He said “You can call the minister of information or president’s spokesperson. This allegation is not court-related. It is not an allegation against the Attorney-General of the Federation.
But senior officials, who spoke in separate interviews with this newspaper on condition of anonymity because they were not authorised to talk about the matter, dared the Binance boss to reveal the names of individuals who demanded the bribe.
A top official in the ONSA, who is close to the probe, said, “Did he (Binance CEO) mention a name? Since he didn’t mention a name, why should anyone be worried? Why should anyone waste their time if somebody made an unfounded allegation but could not mention any name?”
A top EFCC chief, who is close to the trial, also said, “If someone would say something like this, he should have the capacity to mention the people. It’s not worth our time, anybody can say anything but as long as they can’t substantiate it, it’s a waste of time. He should mention names, if not, all that he’s saying is rubbish.”
Two top officials at the EFCC accused the Binance CEO of blackmailing the Federal Government.
They noted that Teng’s claim was frivolous, describing his action as ‘’the modus operandi of foreign personalities and corporations facing legal charges in Nigeria and other African countries.’’
One of the sources noted, “It is not only the EFCC that is prosecuting or investigating Binance over its atrocities against Nigeria. There are allegations of money laundering, and tax evasion, amongst others, against the company, and several federal government agencies are probing the company’s activities in the country.
“But the latest comment about alleged request for bribery by the Binance CEO is a blackmail against the Federal Government. That is the modus operandi of international corporations and individuals facing charges in Nigeria or anywhere else in Africa.”
A senior official noted, “It is the tradition of these international players to blackmail the country whenever they’re caught. What is the correlation between the alleged request for bribes and the allegations brought against Binance?
