The Federal Government of Nigeria has dismissed claims by Binance CEO, Richard Teng, that Nigerian officials demanded a $150m cryptocurrency bribe to end the current investigation into the company’s activities.
The government described the allegations as a “diversionary tactic” and “attempted act of blackmail” by a company desperate to avoid facing criminal charges.
In a statement, the Minister of Information and National Orientation, Idris Mohammed, noted that Binance is being investigated for money laundering, terrorism financing, and foreign exchange manipulation, and that the company’s founder, Changpeng Zhao, is currently serving a prison sentence in the US for similar offenses.
The government emphasized that Binance’s attempts to “launder its impaired image” will not distract from the ongoing investigation, and that the company must submit itself for investigation and face the consequences of its actions.
The statement read, “The Federal Government of Nigeria is aware of attempts by Binance to launder its impaired image as an organisation that does not play by the rules and laws guiding business conduct in sovereign nations… This claim by Binance CEO lacks any iota of substance. It is nothing but a diversionary tactic and an attempted act of blackmail by a company desperate to obfuscate the grievous criminal charges it is facing in Nigeria.”
