The Nigerian government has rejected a $5 million offer from cryptocurrency exchange Binance to secure the release of its detained executive, Tigran Gambaryan, according to Minister of Information Mohammed Idris. The government dismissed the claim that Nigerian lawmakers demanded bribes from Binance, calling the allegations false.
Gambaryan, Binance’s head of financial crime compliance, has been in Nigerian detention for eight months. On Friday, he accused top Nigerian officials, including members of the National Assembly and the National Security Adviser, of demanding bribes from Binance. However, the Nigerian government firmly denied these claims.
“The government rejected Binance’s offer of a $5 million down payment in exchange for Mr. Gambaryan’s freedom, in favor of a more beneficial settlement with the American government,” Idris said in an official statement.
He further stated, “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.”
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Gambaryan accused three Nigerian lawmakers—Philip Agbese, Pete Akpanke, and Ginger Obinna Onwusibe—of attempting to extort $150 million in cryptocurrency from Binance. He claimed that the lawmakers, with the support of the State Security Service (SSS), arranged a staged meeting with “fake cameras” to make their demands appear official.
He also alleged that National Security Adviser Nuhu Ribadu sought “billions in payouts” to fund his future political ambitions.
The Nigerian government has dismissed these allegations as baseless.
“When the attention of the government was called to an alleged bribery demand during that trip, an investigation was immediately opened into it, though there was no formal complaint by anyone,” Idris stated.
Binance has been under scrutiny in Nigeria due to concerns over its operations, including allegations of currency manipulation and financial misconduct. The Nigerian government has been working with international agencies, including the United States, to address these issues.
While Binance offered $5 million to resolve Gambaryan’s situation, the government has opted for a broader resolution involving U.S. authorities rather than accepting a direct payment.
With tensions rising between Binance and the Nigerian government, the outcome of Gambaryan’s detention remains uncertain. However, officials have made it clear that they will not tolerate unfounded accusations or bribe offers.