WED MAY 08 2024-theGBJournal| The Federal Government (FG) as hit back at claims by Binance Chief Executive Officer, Richard Teng that government officials demanded $150 million in cryptocurrency payments as bribe to settle the prosecution of its executives in Nigeria.
The claim was dismissed by the Federal Government as an apparent well-coordinated public relations effort which 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 FG in statement released by Rabiu Ibrahim, Special Assistant to the Minister of Information and National Orientation.
The facts of this matter remain that Binance is being investigated in Nigeria for allowing its platform to be used for money laundering, terrorism financing, and foreign exchange manipulation through illegal trading.
Richard Teng’s allegation comes amidst the detention and investigation of two Binance executives, Nadeem Anjarwalla and Tigran Gambaryan, Binance Regional Manager for Africa and Head of Financial Crime Compliance respectively, in Nigeria.
”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 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,” the FG said.
The FG recalled that 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.
”We would like to remind Binance that it will not clear its name in Nigeria by resorting to fictional claims and mudslinging media campaigns. The only way to resolve its issues will be by submitting itself to unobstructed investigation and judicial due process.
The government of Nigeria will continue to act within its laws and international norms and will not succumb to any form of blackmail from any entity, local or foreign” the FG said.
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