Nigerian authorities deny Binance extortion accusations: What happened?
Date: 2024-05-10 Author: Henry Casey Categories: IN WORLD
Nigeria's Minister of Information, Mohammed Idris, commented on accusations made by the CEO of the Binance exchange, Richard Teng, about extortion of money from government officials. He called the allegations a “vicious tactic” aimed at distracting the public from the real reasons behind the prosecution of the cryptocurrency platform.
Details of the charges
Richard Teng and Tigran Gambaryan, Binance's head of financial crimes, told The New York Times that the company's refusal to pay the bribe led to the arrest and prosecution of its employees. They also pointed out that Binance's failure to agree to these terms led to government opposition.
Reaction of the Nigerian authorities
A Nigerian official said Binance's allegations are part of a well-planned PR campaign aimed at protecting the company's interests. The authorities stressed that the only way for Binance to regain trust and protect its reputation is to comply with laws and regulations in Nigeria.
The situation between the Nigerian authorities and Binance continues to be tense. Instead of mutual accusations, the parties can turn to dialogue and search for constructive ways to resolve disagreements.
