Nigerian government officials have been accused of seeking bribes totaling $150 million from the global cryptocurrency giant Binance, according to the company’ s executive speaking on Tuesday. Richard Teng stated that the Tinubu administration aimed to obtain this significant amount from the corporation to resolve recent fraud accusations swiftly following a meeting with Nigerian legislators.

It remains uncertain whether lawmakers were directly involved in requesting the purported bribes. The company initially revealed the bribery amount to the New York Times.

Mr. Teng and other Binance leaders have asserted that the accusations of fraud against the company lack merit and legality, pledging not to succumb to any unlawful demands.

” In order to resolve these matters, a substantial cryptocurrency payment is to be made discreetly within 48 hours, ” Mr. Teng penned in a blog post published on the Binance website Tuesday.
” The message conveyed by the Nigerian government is unequivocal, ” remarked the CEO of Binance. ” We must to detain an innocent, mid- level employee along with a former U. S. federal agent and incarcerate them in a perilous prison to exert control over Binance. “

 

Binance disclosed that it was instructed to transfer the alleged bribe into a clandestine cryptocurrency account on its platform. It previously stated that it would not comply with the demand to pay a bribe regarding the issue.
A spokesperson for the Nigerian national security agency did not promptly respond to a request for comments. Another
spokesperson for the Nigerian parliament, which has formed a committee to investigate the allegations against Binance, declined to comment on Tuesday morning.

A spokesperson for Binance did not promptly respond to a request for clarification regarding the individuals involved in soliciting the alleged bribes.
Binance and Nigeria have been embroiled in a heated legal dispute since Tigran Gambaryan, an official with the cryptocurrency giant, was arrested in February. National Security Adviser Nuhu Ribadu took responsibility for the arrest, accusing the company of devaluing the Nigerian naira, among other claims of economic sabotage.
Binance has refuted all allegations, and another official who was initially detained with Mr. Gambaryan escaped custody shortly after their arrest.
Mr. Gambaryan is facing charges in a federal court in Abuja, the Nigerian capital, while his wife and children are urging U. S. authorities to assist in freeing the American citizen, asserting that he did nothing wrong.

 

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