FG dismisses Binance, denounces $150 million bribery allegation, says it’s blackmail

•The House investigates the escape of the company executive from NSA custody

•Warns that terrorists and bandits may close schools if attacks persist

Olawale Ajimotokan and Adedayo Akinwale in Abuja

The federal government has condemned Binance CEO Richard Teng’s alleged bribery of $150 million in cryptocurrency payments against unnamed Nigerian government officials to resolve the ongoing criminal investigation against the company.

The rebuttal was contained in a statement issued yesterday by Special Assistant to the Minister of Information and National Guidance, Rabiu Ibrahim, after Teng made the bribery allegation against Nigerian officials in a blog post published by the New York Times on Tuesday.

Additionally, the House of Representatives has launched an investigation into the sudden disappearance and escape of Binance executive Nadeem Anjarwalla from the custody of the National Security Advisor (NSA).

At the same time, the House has called for police and security presence in schools across the country to address the worsening security situation in the country, warning that the activities of terrorists and bandits could close schools if attacks persist.

However, in the federal government’s statement, it described Binance’s accusation as a baseless blackmail attempt.

Additionally, he rebuked the platform for “distraction tactics” and attempts to whitewash its tarnished image as an organization with a reputation for not respecting the rules and laws that guide business conduct in sovereign nations.

“In a blog post that has now been published by many international media organizations, in an apparent well-coordinated public relations effort, Binance CEO Richard Teng made false allegations of bribery against unnamed Nigerian government officials who According to him, they demanded 150 million dollars. in cryptocurrency payments to resolve the ongoing criminal investigation against the company.

“This statement from the CEO of Binance lacks substance. “It is nothing more than a diversionary tactic and an attempted act of blackmail by a company desperate to hide the serious criminal charges it faces in Nigeria,” the federal government said.

He reminded Binance of the fact that it was being investigated in Nigeria for allowing its platform to be used for money laundering, terrorist financing and currency manipulation through illegal trading.

The statement further said that: “While this legal investigation was underway, a Binance executive, who was in court-sanctioned protective custody, escaped from Nigeria and is now a fugitive from the law. In collaboration with Nigerian security agencies, Interpol is currently executing an international arrest warrant for the said fugitive.”

He accused Binance saying the phantom bribery claim was part of an international campaign orchestrated by the company currently accused of criminal prosecution in many countries, including the United States, to undermine the Nigerian government.

The statement recalled that 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 those that Binance was being investigated in Nigeria.

The Chamber investigates the escape of the Binance executive

The House of Representatives has launched an investigation into the sudden disappearance and escape of Binance executive Nadeem Anjarwalla from the custody of the National Security Advisor (NSA).

The House resolution was a consequence of the adoption of a motion of urgent national importance presented in plenary by the Hon. Dominic Okafor.

The lawmaker expressed concern that persons suspected of having committed such heinous crimes against Nigeria, with already overstretched security concerns, were being kept in a guest house in Abuja instead of the legal custody of the State Department Service or any other approved detention center.

He denounced that the Binance executive’s escape from the NSA office using a “Smuggled Passport” was, to say the least, very disappointing, embarrassing and disturbing as it portrays to the world the porosity of the country’s security architecture.

In another development, the House has called for police and security presence in schools across the country and to address the worsening security situation in the country.

The House made the call following the adoption of a motion of urgent public importance presented in plenary on Wednesday by the Hon. Billy Osawaru.

The call was not unrelated to the rate of kidnappings and wanton destruction of lives and property in the country’s schools since 2014.

The House lamented that students are no longer safe even in their schools, especially in places like Borno, Nasarawa, Niger, Zamfara, Katsina and Kaduna states.

Osawaru recalled that on Thursday, March 7, 2024, about 287 schoolchildren were kidnapped from a government school in Kuriga town, Kaduna State.

He said earlier on Friday, September 22, 2023, about 24 students of the Federal University of Gusau in Zamfara State were kidnapped by bandits.

The legislator added that in Nigeria, the police are not monitoring the majority of schools despite the level of attacks that schools frequently suffer and that those that exist are not sufficient in personnel and equipment, hence the losses suffered every time they occur. such attacks.

Osawaeu warned; “If drastic measures are not taken to curb the growing insecurity situation in the country and in schools, entire schools could end up closed due to the activities of these miscreants and bullies.”

Therefore, the House directed its Army, Air Force, Navy, Police Affairs and Defense Committees to engage with all security chiefs to identify how best to protect schools and offer immediate and lasting solutions to security challenges. in the country.

He also directed schools to hire the services of private security teams to complement the efforts of security agencies to protect schools.