Richard Teng, CEO of cryptocurrency exchange Binance, stated yesterday that the business is working closely with Nigerian authorities following the imprisonment of the company’s Head of Financial Crime Compliance.
The Economic and Financial Crimes Commission (EFCC) said on April 8 that a Nigerian court has deferred a hearing against Binance CEO Tigran Gambaryan and another official suspected of laundering more than $35 million until May 2.
“What I can say is that we are working very closely with the Nigerian authorities to try to resolve the matter,” CEO Richard Teng said of Gambaryan’s case at a cryptocurrency conference in Dubai.
The other executive, Nadeem Anjarwalla, a British-Kenyan regional manager for Africa, left Nigeria last month.
Anjarwalla and Gambaryan flew to Nigeria after the country banned multiple bitcoin trading websites, and the EFCC apprehended them upon arrival on February 26.
In addition to the anti-graft case, the Federal Inland Revenue Service (FIRS), Nigeria’s tax agency, has accused Binance and the executives with tax evasion, which will be heard in court today (Friday).
Binance
“This was a one-off. When asked about the detentions, Binance’s Head of Regional Markets, Vishal Sacheendran, told Reuters on the sidelines of the Dubai conference that it had never happened to them before.
Source: Vanguardngr.com
