The Nigerian government has denied allegations of bribery made by Binance executive Tigran Gambaryan against the National Security Adviser (NSA), Nuhu Ribadu, and other top government officials......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
According to the Minister of Information and National Orientation, Mohammed Idris, the Federal Government rejected a $5m offer from the cryptocurrency exchange to secure Gambaryan’s release during his detention in the country.
On February 28, 2024, Gambaryan alongside another Binance executive, Nadeem Anjarwalla, was arrested and detained in Nigeria on allegations of illegal operations and for ex manipulation.
Anjarwalla escaped custody in March, after which the Federal Government filed a criminal charge against Binance for tax evasion.
Amid the regulatory issues in Nigeria, Binance disabled its Naira services on March 8, 2024.
In May, Binance’s CEO, Richard Teng, alleged that Nigerian House of Representatives members sought a bribe in cryptocurrency to resolve the issues.
The House had denied the allegations and accused Binance of attempting to divert attention from criminal allegations against the company.
Repeating the allegations on Friday, Gambaryan insisted that during a meeting at the National Assembly, lawmakers set up fake cameras and made the bribery demand to be paid into their personal crypto wallets.
According to him, operatives of the DSS were also involved in discussions.
He further alleged that Ribadu sought to use the funds to finance a political ambition and that his actions led to diplomatic consequences, including the U.S. limiting visas to Nigerian officials and former President Joe Biden allegedly refusing to meet with President Bola Tinubu.
On the claim that Binance aided manipulation of the naira, leading to weakening of the currency, Gambaryan said “they all knew that the naira’s devaluation was a direct result of Tinubu’s monetary policy, which depegged the naira from the dollar.
“I’m not saying this policy decision was wrong, but everyone understood that removing government intervention would lead to extreme devaluation. Instead of acknowledging this, they used Binance as a scapegoat.”
Reacting on Friday, the information minister dismissed Gambaryan’s claims as “outrageous, defamatory, and unsubstantiated”.
According to Idris, the Federal Government rejected a $5m offer from Binance to release Gambaryan in favour of a more beneficial settlement reached with the United States government.
He asserted that Gambaryan, who was released after diplomatic negotiations, is attempting to discredit Nigerian officials with false accusations.
Quoting Idris, “The Federal Government of Nigeria notes with concern the outrageous allegations, misinformation, and defamatory statements being disseminated by Tigran Gambaryan, an American personnel of Binance who was recently tried in Nigeria for financial crimes.
“While the Federal Government of Nigeria is reluctant to engage Mr. Gambaryan, due to the high-level diplomatic intervention that resolved his case, we are compelled to set the record straight to prevent his falsehoods from gaining traction.
“The first visit of Mr. Gambaryan and his colleagues to Nigeria was at their own discretion, and the Government was not officially involved. However, when the Government’s attention was drawn to an alleged bribery demand during that trip, an investigation was immediately launched, despite there being no formal complaint from anyone.
“Mr. Gambaryan’s second visit to Nigeria was part of a wider probe into the criminal manipulation of the Nigerian currency through peer-to-peer platforms like Binance, but 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.
“We categorically deny the retaliatory claims made by Mr. Gambaryan against Nigerian officials involved in his case, and we urge 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.
“However, we are confident that both the Nigerian and American judicial systems will provide Mr. Gambaryan with a fair opportunity to substantiate his claims in court. Until then, we advise the public to exercise caution and not be swayed by Mr. Gambaryan’s unfounded and malicious claims.”