Two Nigerian lawmakers accused of demanding a $150 million bribe from Binance executive Tigran Gambaryan have denied the allegations, calling them baseless and threatening legal action.
Mr. Gambaryan, the head of financial crime at Binance, claimed that members of Nigeria’s House of Representatives asked for the bribe in exchange for halting a probe into the cryptocurrency firm. He named Philip Agbese, Peter Ankpanke, and another unidentified official, later confirmed as Peter Anakwe. The Binance executive also implicated the chairman of the committee, Ginger Onwusibe, and Nigeria’s National Security Adviser (NSA), Nuhu Ribadu.
Lawmakers Reject Allegations
Mr. Agbese, one of the accused lawmakers, acknowledged that he attended a meeting with Binance representatives but denied asking for a bribe. He clarified that he was not a member of the House Committee on Financial Crimes and only stopped by his colleague’s office when the meeting was already in progress.
“I am not a member of the Committee on Economic and Financial Crimes,” Agbese stated. “I visited my colleague, Hon. Peter Ankpanke, in his office and found him in a meeting with some visitors regarding a matter related to his committee. I inquired about Binance’s operations, exchanged pleasantries, and left without making any demands.”
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Agbese further challenged Gambaryan to provide evidence to support his claims or issue a retraction within seven days. “Failing to provide evidence, Tigran Gambaryan must retract his malicious claims and issue an apology, or he will face legal action,” he warned.
Meanwhile, committee chairman Ginger Onwusibe stated that he had already taken legal action against Binance over the allegations. He shared a copy of his lawsuit, filed on January 14, 2025, which sought to dismiss an ex parte order and a writ of summons against Binance, arguing that the court lacked jurisdiction over the matter.
The Binance-Nigeria Dispute
The dispute between Binance and Nigerian authorities dates back to early 2024, when the government accused the cryptocurrency company of manipulating foreign exchange rates. In February 2024, authorities detained Gambaryan and another Binance executive, Nadeem Anjarwalla, when they arrived in Nigeria for discussions. While Anjarwalla later escaped, Gambaryan remained in custody.
The Economic and Financial Crimes Commission (EFCC) and the Federal Inland Revenue Service (FIRS) charged Binance and its executives with tax evasion, money laundering, and forex violations. However, Gambaryan’s lawyers argued that he was merely an employee with no decision-making power at the company.
After months of detention and reported deterioration in his health, the Federal High Court in Abuja dropped the money laundering charges against Gambaryan in October 2024, leading to his release. Following his release, he sued the Nigerian government, claiming his detention was unlawful and demanding compensation for the distress caused to him and his family.
Despite these developments, Nigerian authorities, including the NSA and EFCC, maintain that their actions were lawful and in line with efforts to regulate financial crimes in the country. The bribery allegations have further intensified the conflict, with both sides threatening legal action.