FG Rubbishes Binance, Denounces $150m Bribery Allegation, Says It’s Blackmail

•House probes escape of firm’s executive from NSA’s custody 

•Warns terrorists, bandits may shut down schools if attacks persist

Olawale Ajimotokan and Adedayo Akinwale in Abuja

The federal government has condemned the $150 million bribery claim alleged by the Binance Chief Executive Officer, Richard Teng, in cryptocurrency payments against unidentified Nigerian government officials to resolve the ongoing criminal investigation against the company.

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

Also, 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 Adviser (NSA).

At the same time, the House has called for  police/security presence in schools across the nation, to address the worsening security situation in the country, warning that the activities of terrorists and bandits might shut down schools if attacks persisted.

However, in the statement by the federal government, it described the allegation by Binance as an attempted blackmail that was bereft of substance.

It further berated platform of “diversionary tactics” and attempting to launder its tarnished image as an organisation reputed for not playing by the rules and laws guiding business conduct in sovereign nations.

“In a blog post that has now been published by many international media organisations, in an apparent well-coordinated public relations effort, Binance Chief Executive Officer, Richard Teng, made false allegations of bribery against unidentified Nigerian government officials whom he claimed demanded $150m in cryptocurrency payments to resolve the ongoing criminal investigation against the company.

“This claim by Binance 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 federal government said.

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

The statement stated further that: “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.”

It accused Binance saying the phantom bribe claim was part of an orchestrated international campaign by the company currently charged with 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 what Binance was being investigated for in Nigeria.

House Probes Escape of 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 Adviser (NSA).

The resolution of the House was sequel to the adoption of a motion of urgent national importance moved at plenary by Hon. Dominic Okafor.

The lawmaker expressed concern that persons suspected to have committed such atrocious crimes against Nigeria with already over-burdened security challenges were kept in a guest house in Abuja instead of lawful custody of the Department of State Service or any other approved custodial facility.

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

In another development, the House has called for  police/security presence in schools across the nation 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 moved at the plenary on Wednesday by Hon. Billy Osawaru.

The call was not be unconnected to the rate of kidnappings and wanton destruction of lives and property across the schools in the country since 2014.

The House lamented 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, 7th of March 2024, about 287 schoolchildren were kidnapped from a government-owned school in Kaduna State’s Kuriga town.

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

The lawmaker added that in Nigeria, policemen are not guarding most of the schools despite the level of attacks frequently experienced by the schools and the ones in existence are not sufficient in manpower and equipment, hence the level losses incurred any time such attacks occurred.

Osawaeu warned; “If no drastic measure is taken to curb the escalating insecurity situation in the country and in the schools, the entire schools may end up being shut down due to the activities of these miscreants and hoodlums.”

The House, therefore, mandated its Committees on Army, Airforce, Navy, Police Affairs and Defence to interface with all security Chiefs to identify how best to secure the schools and proffer immediate lasting solutions to the security challenges in the country.

It also mandated schools to engage the services of Private Security outfits to complement the efforts of the security agencies in securing the schools.