As a researcher with experience in investigating financial crimes and regulatory compliance, I find the ongoing saga between Binance and the Nigerian government intriguing but concerning. From my perspective, it appears that both parties are making serious allegations against each other, and it is crucial to separate fact from fiction.
The Nigerian authorities have refuted the accusation leveled by Binance CEO, Richard Teng, that they requested a $150 million bribe in order to drop the criminal allegations against the cryptocurrency exchange in Nigeria.
On Wednesdays official announcement, Rabiu Ibrahim, the Special Assistant to the Minister of Information and National Orientation, discarded the allegations as unfounded.
A “Diversionary Tactic”
Ibrahim claimed that Binance’s accusations against the Nigerian government were orchestrated as a means to tarnish the government’s reputation and shift focus from the ongoing issues the company is dealing with in Nigeria.
“The statements made by the Binance CEO hold no weight whatsoever. They are merely tactics to distract from the serious allegations against the company in Nigeria. The truth is, Binance is under investigation for enabling money laundering, terrorism financing, and foreign exchange manipulation through unlawful trading on its platform in Nigeria.”
On Tuesday earlier in the week, Teng put up a blog entry criticizing the Nigerian authorities for unlawfully imprisoning Binance’s executives, Tigran Gambaryan and Nadeem Anjarwalla.
In a blog post, Teng asserted that Nigerian government representatives, unidentified to the public, allegedly requested a clandestine $150 million cryptocurrency payment from Binance to terminate ongoing investigations into the company’s business dealings. Teng advocated for the release of Tigran Gambaryan, who had been in custody for more than two months.
Nigeria to Continue Criminal Case Against Binance
Ibrahim went on to assert that the government’s probes won’t be swayed by Binance’s alleged threats, which he labels as “intimidation tactics”.
Ibrahim emphasized that Binance cannot clean up its reputation in Nigeria by making up stories and launching defamatory media campaigns. The effective solution lies in the company’s willingness to undergo thorough investigations and respect legal procedures. The Nigerian government will adhere to domestic laws and international standards, refusing any attempts at intimidation from entities, be they local or foreign.
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2024-05-10 01:14