Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has reaffirmed the government’s commitment to upholding the rule of law in the trial of Binance and its executive.
Gatekeepers News reports that despite international interest in the case, Idris emphasized that due process is being followed at all stages of the trial.
“The prosecutors are confident in their case, based on the facts and evidence gathered,” Idris said.
“Binance will have every opportunity to defend itself in court against these severe charges of financial crimes against the Federal Republic of Nigeria.”
The minister highlighted that Binance has received consular access and due care, following normal diplomatic protocols.
He also noted that the judge in the case denied bail due to flight risk, citing the co-accused’s illegal absconding.
Idris emphasised that Binance’s operations in Nigeria, with a turnover of over $20 billion in 2023, have fueled currency speculation and the cost-of-living crisis.
He also pointed out that the company is not registered in Nigeria and has never paid taxes in the country.
The minister referenced Binance’s international record, including imprisonments, fines, sanctions, and bans in various jurisdictions.
He noted that the company’s co-founder and former CEO, Changpeng Zhao, is currently serving a prison sentence in the United States for money laundering.
“Law enforcement agencies believe Binance operations in Nigeria are part of a broader international pattern,” Idris said.
“It will be for the courts here, as in other jurisdictions, to hold the company and its executives accountable.”
