Nigerian govt dismisses Binance executive’s bribery claims against lawmakers

The Federal Government of Nigeria has refuted bribery allegations made by Tigran Gambaryan, an executive of Binance Holdings Limited, labelling them as false and unsubstantiated.

In a social media post on Friday, February 14, Gambaryan accused Nigerian lawmakers, including Peter Akpanke and Philip Agbese, of demanding a $150 million bribe in cryptocurrency.

He also alleged that National Security Adviser (NSA) Nuhu Ribadu sought "billions in payouts from Binance for political ambition."

Responding to these claims, Minister of Information and National Orientation Mohammed Idris described Gambaryan’s accusations as “outrageous allegations, misinformation, and defamatory statements.”

He also revealed that Nigeria had rejected a $5 million offer from Binance to release Gambaryan in favour of a more beneficial settlement with the U.S. government.

“The Federal Government of Nigeria is hesitant to engage Mr. Gambaryan, given the high-level diplomatic intervention that resolved his case,” Idris stated.

“However, we are obliged to set the records straight to stop his falsehoods from gaining ground.”

Allegations against Binance executive

Idris clarified that Gambaryan’s first visit to Nigeria was discretionary, and no formal complaints were lodged regarding alleged bribery demands at the time.

His subsequent detention in February 2024 was part of a probe into the alleged manipulation of the Nigerian currency through peer-to-peer trading platforms like Binance.

“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,” Idris added.

Gambaryan was released in October 2024 following a high-level diplomatic resolution. The minister dismissed the Binance executive’s claims as baseless and motivated by an attempt to discredit Nigerian officials.

“It is essential to note that Mr Gambaryan’s allegations are not only unsubstantiated but also lack credibility,” Idris emphasised, urging the public to disregard the accusations.

He assured that both the Nigerian and American judicial systems would provide Gambaryan a fair platform to substantiate his claims.

The government reiterated its commitment to transparency and justice while warning against the spread of misinformation.