These claims were based on absolutely nothing. Starting from the fact that the Moscow Faculty of Sciences does not exist, finishing to the fact that the mentioned chemical formula makes no sense.
According to snopes.com, a community that specialise in finding and explaining rumours, the viral report was false and the exact origin of both the text and the image remain uncertain.
The controversial photo appeared in 2012 on Reddit as an image-based warning on the dangers of falling asleep at the beach (a far likelier explanation for the photograph than a demonstration of skin-whitening).
Therefore, an old and unrelated picture was also re-purposed as evidence for a dubious medical claim.
Source: Talkofnaija