Nigeria Refutes Binance’s Bribery Allegations, Calls Them ‘Diversionary Ways’

Nigeria has rejected bribery allegations made by Binance, the world’s largest cryptocurrency change, labeling them as a “tactic to divert” consideration from the change’s actions. 

The assertion is available in response to a blog post by Binance’s newly appointed CEO, Richard Teng, who claimed that the Nigerian authorities demanded a $150 million cryptocurrency cost to settle an ongoing felony investigation.

Nigerian Authorities Slams Binance’s Bribery Claims

In response to Bloomberg, Nigerian Ministry of Data spokesman Rabiu Ibrahim dismissed Teng’s bribery allegations as baseless and missing substance. 

Ibrahim said that the Binance CEO’s declare was a mere diversionary tactic aimed toward shifting focus away from the cryptocurrency change’s actions. The Nigerian authorities firmly denies involvement in any bribery makes an attempt.

In response to Teng’s weblog submit, Binance attended a gathering with Nigerian officers in January, throughout which criminal allegations have been raised in opposition to the corporate. 

Teng claimed that as Binance workers left the assembly, they have been approached by unknown people who demanded a big cryptocurrency cost inside 48 hours to settle the allegations. 

The weblog submit additionally talked about that Gambaryan and his colleague returned to Nigeria in February on the authorities’ invitation however have been subsequently arrested.

Whereas one worker has managed to flee in latest months, Tigran Gambaryan stays in custody. He faces expenses of tax evasion, foreign money hypothesis, and cash laundering. His trial is scheduled to start later this month.

Nigeria Intensifies Scrutiny Of Cryptocurrencies

The Nigerian authorities dismisses Binance’s bribery claims as a part of the corporate’s “orchestrated worldwide marketing campaign” to undermine Nigeria’s popularity. 

The federal government additionally accuses Binance of resorting to fictional claims and mudslinging media campaigns to clear its title amidst criminal prosecutions in a number of international locations, together with the USA.

It’s value noting that Nigeria has been scrutinizing the position of cryptocurrencies within the depreciation of the native foreign money, the naira. The federal government attributes a part of the foreign money’s decline to international change management changes and elevated volatility. 

To handle considerations, the Securities and Alternate Fee banned person-to-person cryptocurrency buying and selling within the naira and indicated that new rules can be applied to control the sector.

Along with the problems in Nigeria, Binance founder Changpeng Zhao was lately sentenced to 4 months in jail within the US for failures that allowed cybercriminals and terrorist teams to commerce freely on the platform. The change additionally agreed to pay $4.3 billion to resolve allegations raised by US authorities.

Binance has not but responded to the Nigerian authorities’s accusations and denials. It stays to be seen how the change will deal with the scenario or present any additional clarification relating to the allegations.

The every day chart reveals BNB’s sideways value motion previously 24 hours. Supply: BNBUSD on

As of this writing, the change’s native token, BNB, is buying and selling at $585, up 4.4% previously week. 

Featured picture from Shutterstock, chart from

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