Binance Nigeria Case: Government Dismisses the Blackmail Allegations; Nadeem Ajawalla to be Extradited!

Binance situation in Nigeria
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In a recent development in Nigeria, the national authorities have dismissed claims by Binance‘s CEO, Richard Teng, regarding alleged demands for a substantial bribe, labeling the accusation as a strategic diversion and an attempt at blackmail. These allegations surfaced amidst severe criminal charges against Binance. Teng had alleged in a blog post that unnamed Nigerian officials sought a $150 million bribe in cryptocurrency to halt an ongoing investigation into the company’s activities.

The Nigerian Information Ministry’s spokesperson, Rabiu Ibrahim, criticized the bribery allegations, stating that they are utterly unsubstantiated and serve merely to detract from the serious accusations Binance faces in Nigeria. The charges against Binance and two of its executives include tax evasion and laundering over $35 million. One of the accused, Tigran Gambaryan, is currently detained, while the other, Nadeem Anjarwalla, a British-Kenyan national, has successfully fled Nigeria.

According to CoinDesk, the International Criminal Police Organization (INTERPOL) has finalized extradition documents for Anjarwalla, who was last spotted in Kenya. INTERPOL Africa is actively collaborating with multiple governments to expedite his return to Nigeria.

This case emerges against a backdrop of escalating tensions between Binance and Nigerian authorities, who accuse the crypto exchange of contributing to the country’s currency destabilization. These disputes have prompted Binance to halt all operations involving the Nigerian Naira and cease its services in Nigeria, reflecting the growing scrutiny and challenges facing crypto entities operating within stringent regulatory environments globally.

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