In a series of explosive allegations following his release from Nigerian custody, Binance's head of financial crime, Tigran Gambaryan, has accused Nigerian lawmakers of demanding a $150 million bribe and claimed the government sought to misuse customer data to target opposition members.
Gambaryan, who was detained in Nigeria from February to October 2024, named three lawmakers - Peter Akpanke, Philip Agbese, and Ginger Onwusibe - as participants in what he described as a "Mickey Mouse operation" involving fake cameras and media setups. According to Gambaryan, the lawmakers demanded the bribe be paid in cryptocurrency to their personal wallets during a January 5, 2024 meeting.
The accusations have been met with denials from multiple parties. Philip Agbese acknowledged attending the meeting but insisted he was there briefly and made no demands, emphasizing he is not a member of the Financial Crimes Committee. Agbese has threatened legal action unless Gambaryan provides evidence or retracts his claims within seven days. Committee chairman Ginger Onwusibe has already initiated legal action against Binance.
The controversy extends beyond the bribery allegations. Gambaryan claims the Nigerian government attempted to use Binance to access citizens' data for targeting opposition members and scapegoated the company for the naira's devaluation, which he attributes to President Bola Tinubu's monetary policy of depegging the currency from the dollar.
The Nigerian government has rejected these accusations. In a statement, Minister of Information Mohammed Idris called Gambaryan's allegations "unsubstantiated" and lacking credibility, suggesting they were motivated by a desire to "discredit and intimidate those who ensured he faced justice." The government revealed it had declined a $5 million settlement offer from Binance, instead reaching an agreement with the American government that led to Gambaryan's release on humanitarian grounds in October 2024.
The case has broader implications for cryptocurrency regulation in Nigeria and international business relations. It began with Gambaryan's arrest alongside another Binance executive, Nadeem Anjarwalla, over allegations of money laundering and tax evasion. Anjarwalla later escaped custody under disputed circumstances, leaving Gambaryan to face charges alone until his release following U.S. government intervention.
Both the Nigerian and American judicial systems are expected to provide venues for these allegations to be tested, as multiple parties have indicated their intention to pursue legal action.
