Top Story

Binance’s false bribery claim diversionary, says Information Minister

"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.

599

The Federal Government says it is aware of attempts by Binance to launder its impaired image as an organisation that does not play by the rules and laws guiding business conduct in sovereign nations.

Many international media organizations have now published a blog post in which Binance Chief Executive Officer Richard Teng falsely accused unidentified Nigerian government officials of bribery, claiming they demanded $150 million in cryptocurrency payments to end the company’s ongoing criminal investigation.

Mr. Mohammed Idris, the Minister of Information and National Orientation, said this in a statement by his Special Assistant on Media, Mr. Rabiu Ibrahim, in Abuja on Wednesday and copied Persecondnews via email.

It stated: “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 investigation into Binance’s use of its platform for money laundering, financing terrorism, and manipulating foreign exchange through illegal trading continues.

“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.

“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 $50 million fine, while Binance is liable for $4.3 billion in fines and forfeitures to the US government.”

The statement added: “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 Nigerian government will continue to act in accordance with its laws and international norms and will not succumb to any form of blackmail from any entity, local or foreign.”

Leave a comment

Related Articles

VP Shettima, Govs. Sanwo-Olu, Abiodun, others witness Okpebholo’s inauguration as Edo Governor

Vice President Kashim Shettima, Lagos Gov. Babajide Sanwo-Olu, his Ogun counterpart, Dapo...

VP Shettima Arrives in Benin City for Edo Governor’s Inauguration

Vice President Kashim Shettima has arrived in Benin City, Edo State capital,...

Tinubu Calls for Immediate End to Israeli Aggression in Gaza, Supports Two-State Solution

President Bola Tinubu has called for an immediate cessation of Israeli aggression...

N5.4trn subsidy savings, bolster for nation’s infrastructure, social programmes – Onanuga

The Presidency has announced that the estimated N5.4 trillion saved from subsidy...

NPA firefighters extinguish APMT crane fire, no fatalities recorded

The Nigerian Ports Authority (NPA) firefighters, with assistance from other sister agencies,...

NPA set to link export processing terminals with domestic export warehouses

The Nigerian Ports Authority (NPA) has unveiled plans to connect Export Processing...

Nigerian stars set to shine at 2025 Grammy Awards with record nominations

Nigerian music stars have taken the spotlight in the 2025 Grammy Award...

FG launches free Caesarean section initiative for Nigerian women

The Federal Government has launched a life-changing initiative, providing free Caesarean sections...

NNPC Ltd. disclaims video of adulterated fuel sold in bottles, jerrycans

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has issued a strong...

New Terror Group “Lukarawas” Emerges in North-West Nigeria

A new terrorist group, known as “Lukarawas,” has surfaced in North-West Nigeria,...

Two fatalities, many injured as hoodlums detonate IED at Imo Market

Disaster has hit Orlu International Market in Imo State following the detonation...

Just in: Trump wins US presidential election

Donald Trump has won the US presidential election, US media announced on...

Tinubu confirms Chief of Army Staff, Lt.-Gen. Lagbaja’s passing

President Bola Tinubu has formally announced the death of Lt.-Gen. Taoreed Abiodun...

Protest: Kyari not responsible for fuel price hike – NNPC Ltd

The Nigerian National Petroleum Company Limited (NNPCL) has come out strongly in...

Just in: FG reverses 18-year-old admission benchmark in tertiary institutions

Nigeria’s Minister of Education, Dr. Tunji Alausa, has abolished the 18-year admission...

FG terminates Julius Berger’s N740bln Abuja-Kaduna-Zaria-Kano road project

The Federal Ministry of Works has issued a 14-day termination notice to...

Just in: FG withdraws treason charges against #Endbadgovernance protesters

The Federal High Court in Abuja has terminated the treason charges brought...

Breaking: Pres. Tinubu orders release of #EndBadGovernance underage protesters

President Bola Tinubu has ordered the immediate release of all minors arrested...

Just in: Seven new ministers take oaths of office

President Bola Tinubu has sworn in seven newly appointed ministers, directing them...

Just in: Appeal Court acquits ex-CJN, Onnoghen, orders FG to unfreeze his account

The Court of Appeal sitting in Abuja on Monday discharged and acquitted...