The Nigerian government has rejected claims of attempted bribery made by Binance CEO Richard Teng, accusing the company of trying to divert attention from a criminal investigation with baseless accusations of bribery.

In a press statement by Rabiu Ibrahim, Special Assistant to the Minister of Information and National Orientation, the Nigerian government dismissed Teng’s allegations as lacking credibility, labelling them as a tactic to distract from serious legal challenges the company faces in the country.

This claim by the CEO 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 government stated.

The government denied any solicitation of bribes and reiterated that Binance is being investigated for alleged involvement in money laundering, terrorism financing, and foreign exchange manipulation.

The statement highlighted the escape of a Binance executive from court-ordered custody, who is now considered a fugitive.

“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 statement noted.

It also underscored Binance’s legal troubles in the United States, where the company faces similar charges, mentioning the recent imprisonment and fines imposed on Binance’s founder.

“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.

“Just a week ago, the founder and former CEO of Binance, Changpeng Zhao, was sentenced to prison in the United States, after pleading guilty to charges very similar to what Binance is being investigated for in Nigeria. In addition, Zhao agreed to pay a fine of $50 million, while Binance is liable for $4.3 billion in fines and forfeitures to the US government,” the statement added.

The statement concluded by reaffirming Nigeria’s commitment to the rule of law and international standards, firmly rejecting any attempts at coercion or blackmail, whether domestic or foreign.