The Nigerian government has refuted attempted bribery claims by Binance CEO Richard Teng, accusing the company of attempting to deflect a criminal investigation with “false allegations of bribery.”
According to a press statement by Special Assistant to the Minister of Information and National Orientation, Rabiu Ibrahim, the Nigerian government described Teng’s allegations as lacking any semblance of truth, characterising them as a diversionary tactic and an act of blackmail orchestrated by a company facing grave legal scrutiny within the country.
“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,” the government said.
The government denied any demands for bribes and reiterated that Binance is under investigation for money laundering, terrorism financing, and foreign exchange manipulation.
The statement highlighted the escape of a Binance executive from court-ordered custody, who is now an international fugitive.
Also Read: Nigeria Contacts Interpol Over Binance Executive’s Escape
“While this lawful investigation was going on, an executive of Binance, who was in court-sanctioned protective custody, escaped from Nigeria, and he is now a fugitive from the law. Working with the security agencies in Nigeria, Interpol is currently executing an international arrest warrant on the said fugitive,” the statement read.
It further emphasised the criminal prosecution Binance faces in the United States for similar charges, mentioning the imprisonment and fines imposed on Binance’s founder.
“The phantom bribe claim is part of an orchestrated international campaign by this company that is facing criminal prosecution in many countries including the United States, to undermine the Nigerian government.
“Just a week ago, the founder and former CEO of Binance, Changpeng Zhao, was sentenced to prison in the United States, after pleading guilty to charges very similar to what Binance is being investigated for in Nigeria. In addition, 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,” the statement stated.
The statement concluded with an affirmation of Nigeria’s commitment to upholding the rule of law and international norms. It steadfastly rejects any attempts at coercion or blackmail, whether from domestic or foreign entities.
FEDERAL MINISTRY OF INFORMATION AND NATIONAL ORIENTATION
PRESS STATEMENT
BINANCE FALSE CLAIM ON BRIBERY DIVERSIONARY
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… pic.twitter.com/4I49hbaVc5
— Fed Min of Info & Nat’l Orien (@FMINONigeria) May 8, 2024
