In a startling revelation, Tigran Gambaryan, a high-ranking executive at cryptocurrency giant Binance, has accused Nigerian lawmakers of demanding a $150 million bribe during his detention in early 2024. The allegations, detailed in a comprehensive social media post, shed light on purported corruption and misconduct within Nigeria’s legislative and security agencies.
Detention and Alleged Bribe Demand
Gambaryan’s ordeal began in January 2024 when he was detained by Nigerian law enforcement officials. He recounts a meeting with members of the House of Representatives, where he alleges that lawmakers Peter Akpanke, Philip Agbese, and Ginger Obinna Onwusibe solicited a $150 million bribe, to be paid in cryptocurrency to their personal wallets. Describing the encounter, Gambaryan stated, “They set up fake cameras and media to make the meeting appear official, but the cameras weren’t even plugged in.”
Involvement of Security Agencies
The Department of State Services (DSS) was reportedly involved in the proceedings. Gambaryan recalls a meeting at the DSS office on January 5, 2024, prior to the House meeting. According to him, DSS officials implied that compliance with the House members’ demands was mandatory. He further alleges that Nigeria’s National Security Adviser, Nuhu Ribadu, played a significant role, orchestrating meetings through intermediaries such as Sa’ad Abubakar and Hamma Adama Belloji.
Disputed Financial Allegations
Central to the controversy was a claim that $26 billion had illicitly exited Nigeria through Binance’s platform. Gambaryan refutes this, explaining that the figure represented cumulative trade data of Nigerian users, not capital flight. He illustrated, “If you trade $100 a hundred times, that’s $10,000 in trade volume, but in reality, you only used $100.”
Escape of Colleague and Detention Conditions
Gambaryan also addressed the escape of his colleague, Nadeem Anjarwalla, who fled custody during the ordeal. Contrary to reports that Anjarwalla escaped during mosque prayers, Gambaryan clarified that he returned and fled afterward. He expressed uncertainty about the exact circumstances of the escape, suggesting the possibility of bribery but admitting a lack of concrete evidence.
During his detention, Gambaryan faced severe health challenges, including a near-fatal case of pneumonia and a herniated disc. He was held in Kuje Prison, known for its harsh conditions and housing high-profile inmates. His prolonged detention and deteriorating health drew significant international attention and diplomatic pressure.
International Diplomatic Efforts and Release
The United States government, including Secretary of State Antony Blinken, intervened on Gambaryan’s behalf. After eight months of detention, Nigerian authorities dropped the money laundering charges against him in October 2024, citing his ill health and international diplomatic considerations. The Economic and Financial Crimes Commission (EFCC) announced the withdrawal of charges at the Federal High Court in Abuja, acknowledging that Gambaryan was merely an employee of Binance and not responsible for the company’s broader financial decisions.
Upon his release, Gambaryan’s wife, Yuki, expressed profound relief, stating, “The past eight months have been a living nightmare. I wish it hadn’t taken this long for his release, or that his health had not declined so much, but we can now focus on healing as a family.”
Ongoing Legal Proceedings and Binance’s Position
While charges against Gambaryan were dropped, the case against Binance continues. The company faces allegations of tax evasion and operating without a license in Nigeria. Binance’s CEO, Richard Teng, expressed deep relief over Gambaryan’s release and emphasized the company’s commitment to compliance and collaboration with global regulators. He stated, “We are eager to put this episode behind us and continue working toward a brighter future for the blockchain industry around the world.”
Implications for Nigeria’s Cryptocurrency Landscape
This incident has cast a spotlight on Nigeria’s complex relationship with cryptocurrency. The country’s young, tech-savvy population has shown a strong interest in digital finance, yet regulatory challenges persist. The allegations of corruption and misconduct within Nigeria’s legislative and security agencies, as highlighted by Gambaryan’s experience, raise questions about the integrity of the country’s financial oversight and the potential for reform in the burgeoning digital asset space.
