May 8, (THEWILL) – The Federal Government has dismissed as diversionary claims by Binance that unidentified Nigerian government officials demanded bribes from the cryptocurrency exchange firm.
THEWILL reports that Richard Teng, Chief Executive Officer of Binance, had alleged in a statement published on its website on Tuesday, that some unknown persons in Nigeria demanded huge payments in digital currency “to make their problems in the country go away”.
The company had pointed out that its representatives were approached after leaving a meeting with the House Committee on Financial Crimes.
“…as our employees were leaving the venue, they were approached by unknown persons who suggested to them to make a payment in settlement of the allegations. Later that day, our local counsel — representing us at that time — was summoned by the Committee through someone purporting to be their agent, who relayed the Committee’s terms and instructed our local counsel to advise us.
“Counsel reported back that he had been presented with a demand for a significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away and that our decision was expected by the morning. Our team grew increasingly concerned about their safety in Nigeria and immediately departed. We, of course, declined the payment demand via our counsel not viewing it to be a legitimate settlement offer,” Teng claimed on Tuesday.
But in an official reaction on Wednesday, a press statement signed by Rabiu Ibrahim, Special Assistant to the Minister of Information and National Orientation, said Teng resorted to “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 pointed out that Binance Founder, Changpeng Zhao, was guilty of the same offence of money laundering in the United States, and currently serving prison terms, an indication that the crypto firm should submit itself for investigation.
The statement read: “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 guiding business conduct in sovereign nations.
“In a blog post that has now been published by many international media organisations, in an apparent well-coordinated public relations effort, Binance Chief Executive Officer, Richard Teng, made false allegations of bribery against unidentified Nigerian government officials who he claimed demanded $150m in crypto-currency payments to resolve the ongoing criminal investigation against the company.
“This claim by Binance CEO lacks any iota of substance. It’s 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 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.
“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 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’ll 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 won’t succumb to any form of blackmail from any entity, local or foreign.”
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