The Nigerian Federal Government has rebutted allegations made by Binance, a major cryptocurrency exchange, regarding a $150 million bribery demand by unnamed officials to settle criminal charges. Mohammed Idris, the Minister of Information and National Orientation, dismissed the claims, asserting they were unsubstantiated and part of Binance’s strategy to avoid accountability for alleged criminal activities. Binance’s CEO, Richard Teng, alleged that after meeting with lawmakers on January 8, 2024, individuals acting on behalf of officials demanded the bribe.
The House of Representatives refuted claims of soliciting or accepting bribes from Binance, emphasizing that its committees did not engage with Binance executives as alleged by Teng. Teng asserted that an agent demanded a significant cryptocurrency payment within 48 hours to resolve the issues.
Responding to the allegations, Minister Idris stated that the investigation into Binance in Nigeria focuses on money laundering, terrorism financing, and illegal trading activities. He emphasized the government’s commitment to upholding the law and international norms, rejecting any form of blackmail. Additionally, a member of the House of Representatives asserted that the House never met with Binance executives or their representatives.
The House also resolved to investigate the escape of Nadeem Anjarwalla, the Head of the African Region of Binance, from the custody of the National Security Adviser. This followed Anjarwalla’s arrest on charges of money laundering and terrorism financing. The escape raised concerns about the country’s security architecture. Anjarwalla was later arrested by Kenyan police on April 22, 2024, with plans for extradition to Nigeria.
