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Binance, Nigerian Government Trade Blame Over $150 Million Bribery Allegations

Emmanuel Obisue by Emmanuel Obisue
February 15, 2025
in Legal, Politics, Top Stories
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Binance, Nigerian Government Trade Blame Over $150 Million Bribery Allegations
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By Emmanuel Nduka 

Tigran Gambaryan, Binance’s head of financial crime, has made explosive allegations, claiming that three Nigerian lawmakers demanded a $150 million bribe from him.

The accusations come amidst the ongoing diplomatic tensions between the Nigerian government and the crypto firm, following Gambaryan’s detention earlier this year.

Gambaryan, who was detained for several months by Nigerian authorities, alleges that the bribe was demanded in exchange for halting his prosecution and the charges of money laundering that were leveled against Binance.

Heritage Times HT reports that he took to X (formerly Twitter) on Friday to publicly name the lawmakers he claims were involved: Peter Akpanke, Philip Agbese, and Ginger Obinna Onwusibe.

Onwusibe, ironically, heads the Nigerian House of Representatives Committee on anti-corruption, while Agbese serves as the deputy spokesperson of the House.

“The DSS was involved in the House of Representatives matter. We met with them at their office on Friday, January 5, 2024, as a prerequisite to our meeting with the House of Representatives,” Gambaryan revealed. “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. They set up fake cameras and media to make the meeting appear official, but the cameras weren’t even plugged in. This ended with them asking for a $150 million bribe, paid in cryptocurrency into their personal wallets. A Mickey Mouse operation at its best”.

While Gambaryan did not provide documentary evidence for these claims, his accusations have sent shockwaves through both the Nigerian political and business landscapes.

Nigerian Government Responds

In response to the allegations, the Nigerian government has strongly refuted Gambaryan’s claims, labeling them as “outrageous misinformation”.

Mohammed Idris, Nigeria’s Minister of Information and National Orientation, condemned the accusations, insisting that they were “baseless” and “defamatory”.

“The federal government rejected Binance’s offer of a $5 million down payment in exchange for Gambaryan’s freedom, in favor of a more beneficial settlement with the American government,” Idris said in a statement. “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,” he added.

Idris further emphasized that the Nigerian government had responded swiftly to initial allegations of bribery during Gambaryan’s visit, conducting an investigation despite the absence of any formal complaint.

According to the Minister, Gambaryan’s second visit was part of a broader investigation into Binance’s involvement in the manipulation of Nigeria’s currency through peer-to-peer platforms. However, he claimed that Gambaryan and his team obstructed the investigation.

Gambaryan was eventually released in October 2024 on humanitarian grounds, following high-level diplomatic interventions from the U.S. government.

However, the Minister dismissed any claims of corruption or foul play, asserting that Gambaryan’s release was part of a larger diplomatic settlement that had brought tangible benefits to Nigeria.

“These allegations are not only unsubstantiated but also lack credibility, given his apparent motive to discredit and intimidate those who ensured he faced justice,” Idris stated, stressing that both the Nigerian and American judicial systems would provide Gambaryan with a fair opportunity to substantiate his claims in court.

The ongoing back-and-forth between Binance and Nigerian officials continues to stir controversy, with both sides adamantly defending their positions.

Tags: Binance
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