Binance’s new CEO alleges that Nigerian government officials took bribes — a claim that could hinder the nation’s attempts to attract foreign investment, according to SBM Intelligence.
On May 7, crypto.news reported that Binance CEO Richard Teng alleged that some unknown persons demanded a cryptocurrency bribe from its executives, Tigran Gambaryan and Nadeem Anjarwalla, prior to their arrest in Nigeria on Feb. 28, 2024.
In a report shared with local media outlets, risk consultancy firm SBM Intelligence explained that the detention of those Binance officials, and the subsequent bribery allegations, sends a discouraging signal to potential foreign investors.
As a result, it undermines confidence in Nigeria’s investment landscape at a time when the nation’s economic outlook remains challenging.
Nigeria, Binance delegation
Gambaryan and his colleagues first visited Nigeria in early January as part of a delegation from…
