Tinubu’s Govt Denies Requesting $150 Million Bribe from Binance

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The Federal Government of Nigeria has refuted claims made by Binance, a cryptocurrency exchange platform, that officials of the Tinubu administration solicited a $150 million bribe. The allegation surfaced in a blog post by Binance Chief Executive Officer Richard Teng.

Rabiu Ibrahim, an aide to the Minister of Information, Mohammed Idris, rebuffed the accusation in a statement released to journalists today, asserting that the allegations lack substance and are merely a diversionary tactic by Binance.

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Ibrahim stated, “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.”

He clarified that Binance is under investigation in Nigeria for purportedly allowing its platform to facilitate money laundering, terrorism financing, and foreign exchange manipulation through illicit trading activities.

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Moreover, he highlighted that an executive of Binance, who was under court-sanctioned protective custody, absconded from Nigeria and is currently a fugitive from the law. Interpol is reportedly executing an international arrest warrant for the individual in question.

The Nigerian government official emphasized that the bribery allegations are part of a calculated international campaign by Binance to undermine the Nigerian government amidst its legal challenges.

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He cited the recent imprisonment of Binance’s founder and former CEO, Changpeng Zhao, in the United States, who pleaded guilty to similar charges the company faces in Nigeria. Zhao agreed to pay a fine of $50 million, while Binance faces potential fines and forfeitures amounting to $4.3 billion 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,” Ibrahim remarked.


He reiterated the Nigerian government’s commitment to upholding the rule of law and international norms, emphasizing that it will not yield to any form of coercion or blackmail from local or foreign entities.

The statement underscores the government’s stance that Binance must subject itself to a thorough investigation and judicial due process to resolve the allegations leveled against it.

In conclusion, the Federal Government of Nigeria affirms its dedication to pursuing legal avenues to address the issues concerning Binance, reiterating its commitment to transparency and accountability in the administration of justice.

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