ABUJA, Nigeria, Tuesday, May 14, 2024 – The Nigerian government has denied allegations made by Binance, the world’s leading cryptocurrency exchange, that Nigerian officials demanded a $150 million bribe in cryptocurrency to resolve an ongoing investigation.1
The Nigerian government, through the Ministry of Information and National Orientation, released a statement calling the claim “false” and a “diversionary tactic.” They maintain that Binance is under investigation for alleged money laundering, terrorism financing, and foreign exchange manipulation through illegal trading.
Earlier last week, Binance CEO Richard Teng published a blog post alleging that a Nigerian official approached a company representative and demanded the hefty bribe to “make these issues go away.”2
The Nigerian government reiterated its commitment to following the rule of law and pledged to continue the investigation into Binance.
The Nigerian Government claims that a Binance executive, who was in court-ordered protective custody, had fled the country and is now considered a fugitive.
The conflicting narratives raise questions about the future of Binance’s operations in Nigeria.
This incident could potentially escalate tensions and complicate the ongoing investigation.
- Bloomberg.com: https://www.bloomberg.com/news/articles/2024-05-08/nigeria-rejects-bribery-claim-made-by-binance-as-dispute-festers[↩]
- binance.com: https://www.binance.com/en/blog/leadership/from-richard-teng-binance-ceo-tigran-gambaryan-is-innocent-and-must-be-released-3634612934164622056[↩]
