The Nigerian government has responded to allegations made by Binance CEO Richard Teng that unidentified Nigerian officials demanded $150 million in cryptocurrency to settle a criminal probe. According to the Minister of Information and National Orientation, Alhaji Mohammed Idris, these allegations are a "diversionary tactic" from a company trying to distract from its legal issues in Nigeria.
In a recent statement, Alhaji Idris condemned the accusations laid out by Teng in various international media outlets as baseless and an attempt to tarnish the reputation of Nigerian authorities. "The Federal Government of Nigeria is aware of attempts by Binance to launder its impaired image. The company is trying to paint itself as a victim while facing serious accusations of money laundering, terrorism financing, and manipulating foreign exchange through illegal trades," he stated.
The minister emphasized that the government remains steadfast in its investigation of Binance for allowing its platform to be used for illicit activities. He accused the company of engaging in a well-coordinated public relations campaign to deflect attention from the criminal charges it faces.
"The claim by Binance's CEO lacks any iota of substance. It is nothing but an attempted act of blackmail by a company desperate to obfuscate the grievous criminal charges it is facing in Nigeria," Alhaji Idris added.
The statement from the minister comes amidst other pressing national issues, including discussions about increasing VAT and ongoing economic challenges highlighted by the depreciation of the Naira. As the situation develops, the Nigerian government appears committed to pursuing its case against Binance while ensuring that the public narrative remains focused on the alleged misconduct of the cryptocurrency exchange rather than on governmental corruption.
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