Nigerian Government Refutes $150M Bribery Claims by Binance CEO

The Nigerian government has denied allegations made by Binance CEO Richard Teng, claiming that its officials demanded a $150 million bribe to settle criminal charges against the cryptocurrency exchange.

Special Assistant to the Minister of Information and National Guidance, Rabie Ibrahim, said in an official statement on Wednesday: It was rejected The allegations are baseless.

“Diversionary tactic”

Ibrahim stated that the allegations were part of a coordinated effort by Binance to discredit the Nigerian government and divert attention from the accusations the company is currently facing in the country.

“This claim by the CEO of Binance lacks any shred of substance. It is nothing more than a diversionary tactic and an extortion attempt by a desperate company to obscure the serious criminal charges it faces in Nigeria. The facts of this matter remain that Binance is being investigated in Nigeria for allowing its platform to be used for money laundering, terrorist financing and foreign exchange manipulation through illegal trading.

Earlier on Tuesday, Teng published a blog post in which he criticized the Nigerian government for unfairly detaining two Binance executives, Tigran Gambaryan and Nadeem Anggarwala.

In the blog post, Teng claimed that unnamed Nigerian government officials had contacted Binance and demanded a secret payment of $150 million in cryptocurrencies to stop investigations into the company's activities. Teng urged the authorities to release Tigran Gambaryan, who has been detained for more than 70 days.

Nigeria continues criminal case against Binance

Ibrahim continued in his statement that the government’s investigations will not be deterred by Binance’s allegations, which he described as “blackmail.”

“We would like to remind Binance that it will not clear its name in Nigeria by resorting to fanciful allegations and defamatory media campaigns. The only way to resolve its issues will be by subjecting itself to an unhindered investigation and due process… The government of Nigeria will continue to act within its international laws and standards and will not surrender.” For any form of blackmail from any entity, local or international, Ibrahim said: