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Nigerian Government Allegedly Demanded $150 Million Bribe from Binance CEO to Drop Fraud Charges

Binance accuse FG of asking for $150 fraud to drop charges
Binance accuse FG of asking for $150 fraud to drop charges

In a startling revelation, Binance CEO Richard Teng accused Nigerian government officials of soliciting bribes amounting to $150 million from the global cryptocurrency giant.

Teng claimed that the administration, led by Tinubu, sought the hefty sum to dismiss recent fraud charges against the company.

This demand allegedly arose following a meeting with Nigerian lawmakers, although it remains unclear if they were directly involved in the solicitation.

Teng vehemently denied the allegations, asserting that Binance would not succumb to illegal pressure or make any illicit payments. He disclosed details of the purported bribe demand, which included a request for payment in cryptocurrency to a secret account within 48 hours.

Binance stated its refusal to comply with the demand, emphasizing its commitment to legal integrity. The Nigerian government, through its national security agency, has yet to respond to requests for comment on the matter. Similarly, the Nigerian parliament, which initiated a committee to investigate the charges against Binance, declined to comment.

The contentious relationship between Binance and Nigeria escalated when Tigran Gambaryan, a company official, was arrested in February.

The detention was attributed to accusations of economic sabotage, including devaluing the Nigerian naira. Despite denying all charges, Binance has been embroiled in a legal battle, with Gambaryan facing prosecution before a federal court in Abuja.

As the saga unfolds, Gambaryan’s family has urged U.S. authorities to intervene and secure his release, maintaining his innocence in the ordeal.

Amidst mounting tensions, Binance remains steadfast in its defense against what it deems as baseless accusations and undue pressure from Nigerian authorities.

This Article is Fact-Checked. See Policy.

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