The Federal Government of Nigeria has described recent bribery and “scapegoat” allegations by Tigran Gambaryan, an American executive of Binance, as “outrageous allegations, misinformation, and defamatory statements” lacking in credibility.
The rebuttal was disclosed in a statement by Mohammed Idris, Minister of Information and National Orientation, on February 14, 2025.
His reaction followed Gambaryan’s remarks about four Nigerian lawmakers who allegedly demanded a $150 million bribe from the cryptocurrency exchange platform.
Gambaryan also accused some Nigerian security officials of allegedly making monetary demands on Binance.
Gambaryan’s Claims
Posting via his X account on Friday, Gambaryan stated that he visited Nigeria to meet with lawmakers and relevant authorities.
- He alleged that he was told to comply with whatever the House members “instructed us to do.”
- According to him, those at the House meeting demanded the alleged bribe.
“At the House meeting, there were three members present. Two of them were Peter Akpanke and Philip Agbese, both working under the leadership of Ginger Obinna Onwusibe. There was a third House member, but I don’t recall his name. They set up fake cameras and media to make the meeting appear official, but the cameras weren’t even plugged in. As you may already know, this ended with them asking for a $150 million bribe, paid in cryptocurrency into their personal wallets. A Mickey Mouse operation at its best,” Gambaryan stated.
- Gambaryan also maintained that the naira’s devaluation was allegedly a direct result of President Tinubu’s monetary policy, which pegged the naira to the dollar, not Binance’s role in currency fluctuations.
“I’m not saying this policy decision was wrong, but everyone understood that removing government intervention would lead to extreme devaluation,” he claimed.
He added that instead of acknowledging this, relevant authorities allegedly used Binance as a scapegoat.
FG’s Rebuttal
Reacting to the allegations, Mohammed stated that while the Federal Government of Nigeria is hesitant to engage Mr. Gambaryan, given the high-level diplomatic intervention that got him discharged from FG’s money laundering case, the ministry is obliged to set the record straight to “stop his falsehoods from gaining ground.”
- Mohammed explained that the first visit by Mr. Gambaryan and his colleagues to Nigeria was discretionary on their part, and the government was not officially involved.
- He added, however, that when the government’s attention was drawn to an alleged bribery demand during that trip, an investigation was immediately opened, even though no formal complaint was lodged.
- He further stated that Mr. Gambaryan’s second visit to Nigeria was part of a broader probe into the criminal manipulation of the Nigerian currency through peer-to-peer platforms like Binance.
- He stressed investigators were frustrated by the tactics deployed by Gambaryan and his team.
“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,” he added.
- According to Mohammed, the ministry categorically denies the retaliatory claims made by Mr. Gambaryan against Nigerian officials involved in his case, urging the public to disregard these false accusations in their entirety.
“It is essential to note that Mr. Gambaryan’s allegations are not only unsubstantiated but also lack credibility, given his apparent motive to discredit and intimidate those who ensured he faced justice,” Mohammed added.
- The minister expressed confidence that both the Nigerian and American judicial systems will provide Mr. Gambaryan with a fair opportunity to substantiate his claims in court.
- He advised the public to exercise caution and not be swayed by Mr. Gambaryan’s “unfounded” claims.
What You Should Know
Gambaryan’s latest claim regarding the naira’s devaluation remains sub judice in view of the pending legal dispute over the Federal Government’s allegations against Binance before Nigerian courts.
- When the Binance bribery allegations became public knowledge nine months ago, Nigeria’s Ministry of Information and National Orientation maintained that the claim was part of an orchestrated international campaign by Binance to undermine the Nigerian government.
- Furthermore, the Federal Government stated that it would not succumb to “blackmail,” insisting that the cryptocurrency firm must submit itself to Nigerian authorities for investigation and legal scrutiny in accordance with Nigerian laws and international norms.
Binance is facing charges of tax evasion, money laundering, and foreign exchange contraventions before the Federal High Court in Abuja.
All eyes are on the courts to pass verdicts on the pending case.
Nairametrics previously reported that the Federal High Court in Abuja discharged Binance executive Tigran Gambaryan from money laundering and foreign exchange contravention charges filed by the Economic and Financial Crimes Commission (EFCC) on October 23, 2024.
His discharge from the EFCC case against Binance was based on health concerns corroborated by the commission.
