The latest development in Nigeria's cryptocurrency saga unfolds as the House of Representatives refutes bribery allegations from Binance. Amidst tax evasion charges and regulatory scrutiny, the legislative body vows to probe the escape of a Binance executive.
The Nigerian House of Representatives has refuted allegations of soliciting bribes from cryptocurrency giant Binance, amidst mounting controversy over the detention of its executives and tax evasion charges.
Binance CEO Richard Teng revealed in a blog post that despite multiple requests for details of the allegations, they have not received sufficient information to prepare a response.
Teng disclosed that Binance representatives met with the House Committee on Financial Crimes, chaired by Ginger Onwusibe, to discuss the matter. However, lawmakers Kama Nkemkanma and Tajudeen Abbas vehemently denied any engagement with Binance, emphasizing that no bribe was ever demanded, casting doubt on the credibility of the accusations. Meanwhile, the House of Representatives has initiated a probe into the escape of Nadeem Anjarwalla, Binance's regional manager for Africa, from custody in March.
Anjarwalla's escape has raised questions about the efficacy of law enforcement and oversight mechanisms, prompting calls for a thorough investigation into the circumstances surrounding his apprehension in Kenya.
The controversy surrounding Binance's operations and the alleged bribery attempt underscores the challenges facing regulatory bodies in the cryptocurrency sector, highlighting the need for enhanced transparency and accountability measures to safeguard against illicit activities and financial crimes.
