Connect with us

Business

There Was Never a Demand of $150 Million Bribery From Binance CEO – FG

Published

on

The Federal Government of Nigeria has denied the allegations made by the Chief Executive Officer (CEO) of Binance Holding Ltd, Richard Teng who alleged that government authority demanded $150 million bribery from him.

The Special Assistant to the Minister of Information and National Orientation, Rabiu Ibrahim, said this in a statement on Wednesday in Abuja.

Recall that it was recently reported yesterday, 7th May that Teng alleged that Nigerian authorities demanded the sum of $150million in cryptocurrency as a bribe to make the money laundering trial initiated against two of its executives, Tigran Gambaryan and Nadeem Anjarwalla, to go away.

These two above, Gambaryan, a U.S. citizen and head of financial crime and Anjarwalla, a British Kenyan, are currently facing trial for laundering more than $35 million in Nigeria.

Reacting to the above allegations levelled against the government, Ibrahim said the claim is an orchestrated attempt by Binance to undermine the Nigerian government.

The spokesperson also said the allegations by Binance CEO lacks “any iota of substance,” and it is attempted to “blackmail” the government.

“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 who 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 facts of this matter remain that Binance is being investigated in Nigeria for allowing its platform to be used for money laundering, terrorism financing, and foreign exchange manipulation through illegal trading,” Ibrahim said.

The federal government continued by saying that it can never said it will can never succumb to “blackmail”, insisting that the cryptocurrency firm must submit itself to the Nigeria authorities for investigation.

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

Published

on

By

By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

Continue Reading

Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

Published

on

By

By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

Continue Reading

Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

Published

on

By

By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

Continue Reading

Trending

Deneme Bonusu Veren Sitelergrandpashabet girişgrandpashabetJojobetCasibomdeneme bonusu veren sitelerligobettipobettipobetcasibomjojobet girişAvrupabetgrandpashabet linkdeneme bonusuganobetsezar casinomatadorbetbetasusdoedajojobetgrandpashabetgameofbetbetciobettiltpalacebet girişbetbey girişwbahis girişcratosroyalbet girişbetpuan girişbetpuan girişpusulabetjojobetpusulabetbetebetamgbahispalacebetbetbeywbahisbetebetcratosroyalbetbetpuanwbahispusulabeturfa konteynerşanlıurfa konteynersuperbetinvdcasinopusulabetkavbetPusulabet güncel girişPusulabet giriştophillbetjojobetCasibomCasibomgrandpashabetjojobetgrandpashabet girişbettilt girişcasibomGrandpashabetmatbet girişmatbet girişpusulabet girişVDCasinoVDCasinonesinecasinoromabetromabetgameofbetradissonbetpalacebetbetbeywbahiscratosroyalbetjojobetDeneme Bonusu Veren SitelergrandpashabetgrandpashabetcasibomgrandpashabetbahiscasinocasibomjojobetgrandpashabetholiganbetmatbetjojobetbetciosekabetjojobetmarsbahisgrandpashabetbetciopusulabetholiganbetgrandpashabetpornocasibomGrandpashabetgrandpashabetpusulabet girişbetwooncasibomjojobet