Nigerian Govt. denies Binance $150m bribe request

Mohammed Idris, Nigeria’s minister of information, has denied the allegation by Binance’s CEO, Richard Teng, that some unnamed government officials requested a $150m bribe.

Teng had said the bribe was meant to quash the accusations against the company by the Nigerian government.

Idris, in a statement, said the allegation was “a diversionary tactic and an attempted act of blackmail by a company desperate to obfuscate the grievous criminal charges it is facing in Nigeria.”

He stated that the company is being investigated for allowing its platform to be used for money laundering, terrorism financing, and foreign exchange manipulation through illegal trading.

He mentioned that the government was working with Interpol to repatriate the company’s executive who escaped from custody.

He accused the company of leading a smear campaign and noted that it is likewise facing criminal prosecution in many countries, including the United States.

He also said that the founder and former CEO of Binance, Changpeng Zhao, was sentenced to prison in the United States for similar offences as the ones he accused of in Nigeria.

The Minister added Zhao agreed to pay a fine of $50 million, while Binance is liable for $4.3 billion in fines and forfeitures to the US Government.

Idris said, “We would like to remind Binance that it will not clear its name in Nigeria by resorting to fictional claims and mudslinging media campaigns. The only way to resolve its issues will be by submitting itself to unobstructed investigation and judicial due process.”


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