By David Akinadewo-Adekahunsi
The Federal Ministry of Information and National Orientation has released a statement rejecting claims made by Binance CEO, Richard Teng that Nigerian government officials demanded a $150 million cryptocurrency bribe to resolve the company’s ongoing criminal investigation.
The government described the allegations as “false” and “lacking any iota of substance,” labeling them a “diversionary tactic” and “attempted act of blackmail” by Binance to deflect attention from the serious criminal charges it faces in Nigeria.
According to the statement signed by Rabiu Ibrahim, the Special Assistant to the Minister of Information and National Orientation, Binance is being investigated for allowing its platform to be used for money laundering, terrorism financing, and foreign exchange manipulation through illegal trading. The company’s executive, who was in court-sanctioned protective custody, escaped from Nigeria and is now a fugitive from the law, with Interpol executing an international arrest warrant.
The government noted that Binance is facing criminal prosecution in multiple countries, including the United States, where its founder and former CEO, Changpeng Zhao, was recently sentenced to prison and agreed to pay a $50 million fine, with Binance liable for $4.3 billion in fines and forfeitures.
The statement emphasized that the Nigerian government will not be swayed by Binance’s “fictional claims and mudslinging media campaigns” and will continue to act within its laws and international norms to resolve the matter through unobstructed investigation and judicial due process.
