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Reps Deny Demanding Bribe From Binance

Binance, a global cryptocurrency platform, has accused top Nigerian government officials of requesting a $150 million payment in crypto to settle criminal charges against the company.

The House of Representatives has denied soliciting a bribe from Binance, a famous cryptocurrency company. On Tuesday, the cryptocurrency giant stated that some unknown individuals in Nigeria wanted large payments in digital currency to make their “problems in the country go away”.

Binance.Ltd, a trading platform largely used for exchange trade, has accused the Federal Government of Nigeria of asking for bribes to release their staff arrested by the Economic and Financial Crimes Commission, EFCC on February 28 based on accusations of illegal exchange rate manipulation. Binance Chief Executive Officer Richard Teng said the Nigerian government is demanding for Two Hundred Billion Naira to make their money laundering case “GO AWAY’ Richard said this happened in a meeting held by both parties in Abuja.

Reacting to the Bribe allegation labeled against the Federal government by Binance, the Special assistant to the president on social media Dada Olusegun took to his X account to call the allegation leveled by Binance as Bullcrap, saying patriotic citizens should not believe the trading platforms allegation.

The federal High Court in Abuja has adjourned the trial to May 13. The court also adjourned the tax evasion trial against Binance and the two executives to May 17 after the matter was stalled because the exchange had not been formally served with the charges.

Meanwhile, the wife of one of the charged Binance executives has accused the Nigerian government of keeping her husband in Kuje prison with dreaded Boko Haram terrorists, saying Gambaryan’s life is at risk and asking the United States to save her husband from the Nigerian government.

Binance’s Chief Executive officer said his organization will only engage in settlement with the Nigeria government on the following conditions.

  •  Binance needs to see the relevant petition and or the details of all allegations.
  • Any settlement must be official, recorded in writing, and signed by all relevant parties
  • Any settlement must encompass all relevant agencies and be in full and final settlement of all allegations, including any potential historic tax liabilities, if applicable, with guarantees.
  • while the agreement might be done in private, they must be published publicly for the sake of fairness.
  • there should be no public hearing before the committee.
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