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Nigeria dismisses Binance CEO’s corruption allegation as ‘diversionary tactic’ by Reuters
By Camillo Eboh
ABUJA (Reuters) – Nigerian authorities on Wednesday denied allegations of solicitation of bribes by Binance’s CEO, saying it was a “diversionary tactic” and an “act of blackmail” aimed at undermining pending criminal charges against the company.
Binance, the world’s largest cryptocurrency exchange, and two of its executives face separate trials on charges of tax evasion and laundering more than $35 million, which the company is contesting.
US citizen and Binance financial crime compliance officer Tigran Gambaryan remains in custody while British-Kenyan Nadeem Anjarwalla has fled the country.
CEO Richard Teng in a blog post accused unidentified Nigerian officials of demanding a bribe of $150 million in cryptocurrency to stop the investigation.
In a statement on Wednesday, Nigeria’s Ministry of Information spokesperson Rabiu Ibrahim said the claims “lack any iota of substance.” He accused Binance of trying to undermine the country’s legal proceedings.
“It is nothing more than a diversionary tactic and an attempt at blackmail by a company desperate to obfuscate the serious criminal charges it is facing in Nigeria,” Ibrahim said.
“The fact remains that Binance is under investigation in Nigeria for allowing its platform to be used for money laundering, terrorist financing and foreign exchange manipulation through illegal trading,” he said.
Nigerian authorities say the corruption allegations are part of a broader campaign by Binance to discredit investigations against the company, citing similar legal issues in the United States.
Binance did not immediately comment, but in a statement on Tuesday accused Nigeria of setting a dangerous precedent after its executives were invited for talks and then detained as part of a crackdown on the cryptocurrency industry.
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Teng’s blog is the latest in a dispute that has already seen Binance shut down in Nigeria.
Nigeria has blamed Binance for its currency problems after cryptocurrency websites emerged as preferred platforms for trading the Nigerian naira as the country grappled with a chronic dollar shortage.
Binance said in early March that it would halt all naira transactions and trading.