President Bola Tinubu’s government says the bribery allegation by Binance is a diversionary strategy to run away from wrongdoings.

Its information minister, Mohammed Idris, said this in a statement issued on Wednesday.

According to the minister, the Tinubu government is aware of attempts by Binance to launder its impaired image as an organisation that does not play by the rules and laws guiding business conduct in sovereign nations.

Mr Mohammed said, “The organisation made false allegations of bribery against unidentified Nigerian government officials, who it claimed demanded $150 million in cryptocurrency payments to resolve the ongoing criminal investigation against the company.

“This claim by Binance lacks any iota of substance. It is nothing but a diversionary tactic and an attempted act of blackmail by a company desperate to obfuscate the grievous criminal charges it is facing in Nigeria.”

The Nigerian minister added, “While this lawful investigation was going on, an executive of Binance, who was in court-sanctioned protective custody, escaped from Nigeria, and he is now a fugitive from the law. Working with the security agencies in Nigeria, Interpol is currently executing an international arrest warrant on the said fugitive.

“The phantom bribe claim is part of an orchestrated international campaign by this company that is facing criminal prosecution in many countries, including the United States, to undermine the Nigerian government.”

The minister recalled that a week ago, Changpeng Zhao, the founder and former CEO of Binance, was sentenced to prison in the United States after pleading guilty to charges similar to those being investigated against Binance in Nigeria.

He added that Mr Zhao agreed to pay a $50 million fine, while Binance is liable to the U.S. government for $4.3 billion in fines and forfeitures.

“We would like to remind Binance that it will not clear its name in Nigeria by resorting to fictional claims and mudslinging media campaigns. The only way to resolve its issues will be by submitting itself to unobstructed investigation and judicial due process.

“The federal government will continue to act within its laws and international norms and will not succumb to any form of blackmail from any entity, local or foreign,” Mr Idris stressed. 

(NAN)