Thursday, 09 May 2024 04:45

FG dismisses Binance CEO's bribery allegation as a ‘diversionary tactic’

Rate this item
(0 votes)

Nigerian authorities have refuted claims made by Binance's CEO regarding solicitation of bribes, labeling the accusations as a "diversionary tactic" and an "act of blackmail" aimed at undermining ongoing criminal proceedings against the company.

Binance, recognized as the world's largest cryptocurrency exchange, along with two of its executives, faces separate trials on charges of tax evasion and laundering exceeding $35 million, which the company vehemently contests. While Tigran Gambaryan, Binance's head of financial crime compliance and a U.S. citizen, remains in custody, British-Kenyan Nadeem Anjarwalla has fled the country.

CEO Richard Teng, in a blog post, pointed fingers at unidentified Nigerian officials, alleging their demand for a $150 million cryptocurrency bribe to halt investigations.

However, Nigeria's Information Ministry spokesperson Rabiu Ibrahim dismissed these claims on Wednesday, asserting that they "lack any iota of substance." Ibrahim accused Binance of attempting to undermine Nigeria's legal proceedings, labeling the allegations as a diversionary tactic and an act of blackmail.

He reiterated Nigeria's stance, emphasizing that Binance is under investigation for purportedly enabling its platform to facilitate money laundering, terrorism financing, and foreign exchange manipulation through illicit trading. Nigerian authorities view the bribery allegations as part of a broader campaign by Binance to discredit ongoing investigations, referencing similar legal challenges faced by the company in the United States.

While Binance refrained from immediate comment, a previous statement accused Nigeria of establishing a dangerous precedent, following the detention of its executives during what was purportedly a dialogue and subsequent crackdown on the cryptocurrency industry.

The blog post authored by Teng represents the latest development in an escalating dispute that led to Binance suspending operations in Nigeria. Nigeria has previously pointed fingers at Binance for exacerbating its currency woes, particularly as cryptocurrency platforms emerged as preferred avenues for trading the Nigerian naira amidst chronic dollar shortages. Binance announced in early March its decision to cease all transactions and trading involving the naira.

March 15, 2025

Dangote Refinery further reduces petrol loading price amidst fresh crude supply from NNPCL

In a significant development in Nigeria's downstream oil sector, the Dangote Petroleum Refinery has further…
March 14, 2025

I know individuals in Tinubu’s govt who bought ministerial positions, El-Rufai claims

Former Kaduna State governor, Nasir El-Rufai, has revealed that he knows individuals who paid to…
March 14, 2025

How leaders train themselves to rethink and adapt faster

Paola Cecchi-Dimeglio Recognizing the value of rethinking is one thing—making it a habit is another.…
March 01, 2025

Man offers to split $525,000 jackpot with thieves who stole his credit card to buy…

A Frenchman appealed to the homeless thieves who stole his credit card to buy a…
March 14, 2025

Gunmen invade Kaduna communities, abduct 10

Suspected bandits have abducted ten villagers from three remote communities in Kajuru Local Government Area…
March 15, 2025

What to know after Day 1115 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Putin urges Kiev to order troops in Kursk Region to surrender Moscow is…
March 15, 2025

Humanoid robot with human-like competence unveiled in China

Du Qiongfang Humanoid robot manufacturer AgiBot in Shanghai unveiled on Tuesday its latest humanoid robot…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.