The Federal Government of Nigeria has denounced what it termed as “false allegations” made by Binance, a cryptocurrency exchange platform, regarding bribery demands from Nigerian government officials.
Binance’s Chief Executive Officer, Richard Teng, alleged that unidentified Nigerian government officials demanded $150 million in cryptocurrency payments to resolve an ongoing criminal investigation against the company.
In response, the Nigerian government labeled these claims as “diversionary tactics” and “attempted acts of blackmail” by Binance, desperate to obfuscate the criminal charges it faces in Nigeria.
The government clarified that Binance is being investigated in Nigeria for allowing its platform to be used for money laundering, terrorism financing, and foreign exchange manipulation through illegal trading. Additionally, an executive of Binance, under court-sanctioned protective custody, fled Nigeria and is now a fugitive from the law. Interpol is currently executing an international arrest warrant for the fugitive.
The Nigerian government characterized the bribery claim as part of an orchestrated international campaign by Binance to undermine the Nigerian government. Just recently, Binance’s founder and former CEO, Changpeng Zhao, was sentenced to prison in the United States for similar charges. Zhao agreed to pay a $50 million fine, while Binance faces $4.3 billion in fines and forfeitures to the US Government.
The Nigerian government emphasized that Binance will not clear its name in Nigeria through fictional claims and media campaigns. The only way to resolve the issues, according to the government, is for Binance to submit itself to unobstructed investigation and judicial due process.
The government reiterated its commitment to acting within its laws and international norms and vowed not to succumb to any form of blackmail from any entity, local or foreign.
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