Binance false claim on bribery diversionary, says FG 

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The Federal Government of Nigeria (FG) has rebutted Binance CEO Richard Teng’s allegations, asserting that Nigerian officials demanded a $150 million cryptocurrency bribe to conclude the ongoing investigation into the company’s operations.

In a statement by the Special Assistant to the Minister of Information and National Orientation, Rabiu Ibrahim, FG declared the claim devoid of any substance.

Furthermore, FG characterised the claim as a diversionary maneuver and an attempt at blackmail by a company eager to obscure the serious criminal charges it faces in Nigeria.

FG is cognizant of Binance’s efforts to launder its tarnished reputation as an entity disregarding the rules and laws governing business conduct in sovereign states.

Binance CEO Richard Teng’s allegations of bribery against unidentified Nigerian government officials, purportedly demanding $150 million in cryptocurrency payments to resolve the ongoing criminal investigation against the company, were disseminated in an apparently coordinated public relations endeavor through a blog post published by numerous international media outlets.

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The crux of the matter remains that Binance is under investigation in Nigeria for permitting its platform to be exploited for money laundering, terrorism financing, and foreign exchange manipulation via illicit trading.

Amidst this lawful investigation, an executive of Binance, under court-sanctioned protective custody, fled Nigeria, becoming a fugitive from justice. Interpol, in collaboration with Nigerian security agencies, is currently executing an international arrest warrant for the said fugitive.

The purported bribe claim is part of an orchestrated international campaign by Binance, facing criminal prosecution in multiple countries, including the United States, to undermine the Nigerian government.

Recently, Binance’s founder and former CEO, Changpeng Zhao, was sentenced to prison in the United States, admitting guilt to charges akin to those Binance is being probed for in Nigeria. Zhao also agreed to pay a $50 million fine, while Binance faces $4.3 billion in fines and forfeitures to the US Government.

The FG reiterates to Binance that it cannot exonerate itself in Nigeria through fabricated claims and smear campaigns in the media.

According to FG, the sole path to resolving its issues is by subjecting itself to unhindered investigation and judicial due process.

The Nigerian government emphasizes its commitment to acting within its laws and international norms, refusing to yield to any form of blackmail from any entity, domestic or foreign.