Tigran Gambaryan, an executive at Binance Holdings Limited, has accused the Nigerian government of attempting to access private user data from the cryptocurrency platform to target opposition politicians. He also alleged that lawmakers and security officials sought a $150 million bribe from Binance in a covert operation aimed at deflecting attention from Nigeria’s ongoing economic crisis......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
Accusations of Government Manipulation
Gambaryan, who was detained in Nigeria for eight months, revealed on social media platform X that high-ranking government officials pressured Binance to provide sensitive data on Nigerian users. He claimed this was part of a broader plan to blame certain opposition figures for the sharp depreciation of the Naira.
According to Gambaryan, on January 5, 2024, he attended a meeting with Nigeria’s Department of State Services (DSS), where discussions focused on following directives from the House of Representatives. He described how the government tried to manipulate the investigation against Binance by fabricating a narrative that the company was responsible for an alleged illicit outflow of $26 billion from Nigeria.
Bribery Allegations and Fabricated Evidence
Gambaryan named lawmakers Peter Akpanke, Philip Agbese, and Ginger Obinna Onwusibe as key figures in what he called a “Mickey Mouse operation.” He detailed how officials set up fake media equipment during the meeting to make it appear official, only to later demand a $150 million bribe in cryptocurrency.
He further alleged that Nigerian officials knowingly misrepresented Binance’s trading data to falsely claim that $26 billion had left Nigeria’s economy. Explaining how crypto trading works, he clarified that the figure reflected total trade volume, not capital flight.
Gambaryan also refuted claims that another Binance executive, Nadeem Anjarwalla, had escaped during mosque prayers, stating that the Nigerian government had detained them illegally without any valid justification. He accused authorities of fabricating documents to continue holding them after a court order for their detention expired.
Scapegoating Binance for Economic Troubles
The Binance executive argued that the Nigerian government deliberately used the cryptocurrency firm as a scapegoat to distract from the impact of its own economic policies. He stated that the devaluation of the Naira was a direct result of President Bola Tinubu’s decision to remove government controls on the currency, a move that led to its sharp decline.
Despite this, Gambaryan alleged that Nigerian authorities falsely accused Binance of currency manipulation and demanded user data on all Nigerian traders, purportedly to target opposition politicians.
The case between Binance and the Nigerian government escalated in February 2024, when the Economic and Financial Crimes Commission (EFCC) arrested Gambaryan and Anjarwalla on money laundering and tax evasion charges. This came after the Central Bank of Nigeria’s governor, Olayemi Cardoso, claimed that $26 billion had been funneled through Binance without a trace.