Binance CEO Richard Teng claimed that officials in Nigeria took bribes. This could complicate Nigeria's efforts to attract foreign investment. 📉 SBM Intelligence stated that the arrest of Binance officials and subsequent bribery allegations sent a deterrent signal to potential foreign investors. This undermines confidence in the investment environment at a time when Nigeria's economic outlook remains challenging. The Nigerian government remains opposed to the issue, despite the growing acceptance of cryptocurrencies. SBM Intelligence noted that it has been more than two months since the Nigerian government arrested two Binance executives, which could make it difficult to attract investors.