THE Federal Government has dismissed allegations by a Binance executive, Tigran Gambaryan, accusing Nigerian officials of demanding bribery from him and his firm during the period he faced trial in Nigeria in 2024.
The government described the allegations as ‘falsehoods’ aimed at discrediting its officials.
In a statement on Friday, February 15, minister of information and national orientation, Mohammed Idris, expressed concerns over what he called “outrageous allegations, misinformation, and defamatory statements” by Gambaryan following his release from Nigerian custody.
Gambaryan and another Binance official, Nadeem Anjarwalla, were detained by the Nigerian government, which accused their firm of money laundering and encouraging criminality in Nigeria.
After a couple of weeks, Anjarwalla reportedly escaped from custody while Gambaryan was held for several months before his release.
“While the Federal Government of Nigeria is hesitant to engage Mr. Gambaryan, given the high-level diplomatic intervention that resolved his case, we are obliged to set the records straight to stop his falsehoods from gaining grounds,” the statement read.
According to the government, the Binance personnel’s first visit was made on his own accord. Although the government was not formally involved, an investigation was swiftly initiated when an alleged bribery demand surfaced during the trip.
The minister noted that his subsequent visit was part of a broader investigation into alleged financial misconduct involving peer-to-peer cryptocurrency trading platforms like Binance.
“Mr. Gambaryan was released by the Nigerian government in October 2024 on humanitarian grounds and following a high-level diplomatic intervention that ended with tangible benefits for Nigeria. The government rejected Binance’s offer of a $5 million down payment in exchange for Mr. Gambaryan’s freedom, in favour of a more beneficial settlement with the American government,” the minister wrote.
This rebuttal came on the heels of several allegations by Gambaryan, accusing that three Nigerian lawmakers demanded a $150 million bribe from him to free him from arrest and prosecution.
In a post on his X handle on Friday, February 14, Gambaryan, listed three lawmakers involved in the bribe solicitation.
Gambaryan also alleged in his post that the State Security Service (SSS), also known as the DSS, played a role in the meeting where the House members demanded the bribe.
The Binance executive further accused Security Adviser (NSA), Nuhu Ribadu, of demanding a bribe from the cryptocurrency platform to fund his political ambition.
However, Philip Agbese, one of the three lawmakers Gambaryan named, dismissed the bribery allegation against him.
He said, “These allegations are false. I was not part of any meeting with any Binance executive regarding money for any purpose. The leadership of the committee took the matter to court, and Binance has already apologised.”
Also, dismissing Gambaryan’s claims, the government urged the public to disregard his claims entirely, adding that it’s an attempt to “intimidate those who ensured he faced justice,”
The government emphasised that Gambaryan’s allegations remain unproven and suggested that he will have the opportunity to substantiate them through the judicial systems of both Nigeria and the United States.
Backstory
The ICIR reported that Gambaryan, a US national who was detained on February 26, 2024, was released on October 23, after the Nigerian government dropped the money laundering charges filed against him through the Economic and Financial Crimes Commission (EFCC).
The trial judge, Emeka Nwite, discharged Gambayran on health grounds.
The EFCC had informed the court that the case could not proceed on the last adjourned date due to Gambayran’s health condition.
In early 2024, Gambaryan travelled to Nigeria to address regulatory concerns between Binance and the Nigerian government. During this visit, Gambaryan and his colleague, Anjarwalla, were detained by Nigerian authorities on allegations of money laundering and tax evasion.
While Anjarwalla managed to escape in mysterious circumstances, Gambaryan was held in Kuje Prison for eight months.
He was eventually released in late 2024 following diplomatic interventions from the U.S. government.
Usman Mustapha is a solution journalist with International Centre for Investigative Reporting. You can easily reach him via: umustapha@icirnigeria.com. He tweets @UsmanMustapha_M