SBM Intelligence, an Africa-focused risk consultancy firm, has warned that Binance CEO Richard Teng’s bribery allegations against Nigerian government officials could impede the country’s foreign investment efforts.
On Tuesday, May 7, Cointelegraph reported that Binance’s CEO, Richard Teng, alleged that some unknown personsDespite the Nigerian government’s, SBM Intelligence emphasizes the importance of a thorough investigation to uncover the truth and hold any culpable officials accountable through proper legal. The consulting firm said,
Nigeria’s government has shown strong opposition to cryptocurrency, which contradicts its increasing popularity and acceptance among citizens. This highlights a gap between government views and public opinion. However, it emphasized that detaining foreign business officials could make it challenging for the country to attract investors. SBM added,