Hon. Philip Agbese, the Deputy Spokesperson of the Nigerian House of Representatives, has strongly denied accusations of bribery made against him by Binance executive, Tigran Gambaryan. The allegations claim that Agbese was involved in a plot to demand a $150 million bribe from Binance, a prominent global cryptocurrency exchange. In response, Agbese has called on Gambaryan to either retract his claims and provide evidence within seven days or face legal action.
The bribery claims surfaced when Tigran Gambaryan, a senior figure at Binance, accused Agbese of being part of a group of individuals who allegedly sought a large sum of money from the company. Gambaryan’s allegations suggested that the lawmaker was involved in demanding the $150 million from Binance in exchange for some form of favour or consideration, though the details remain unclear.
In a statement issued from Abuja, Agbese vehemently denied the allegations, calling them unfounded and malicious. “These allegations are false,” he said. “I was not part of any meeting with any Binance executive regarding money for any purpose. The leadership of the Committee took the matter to court, and Binance has already apologised.”
Agbese took swift action in response to the bribery claims, explaining that he had no connection to the issue. He clarified that he is not a member of the House Committee on Economic and Financial Crimes, the body which would have been involved in any dealings with Binance. According to Agbese, the only time he encountered Binance representatives was during a visit to the office of his colleague, Hon. Peter Ankpanke, in connection with a meeting related to the Committee’s work.
“I went to Hon. Peter Ankpanke’s office, where Hon. Peter Anekwe was also present. It was there that I learned they were in talks with the Binance team over a referral to their Committee,” Agbese explained. “I never saw those visitors again after that chance meeting and did not attend any further meetings with Binance executives, the EFCC, or the DSS.”
Agbese stressed that any questions about Binance or the cryptocurrency issue should be directed to the Committee, not to him. He also made it clear that he has no involvement in cryptocurrency at all. “I have never used any cryptocurrency. I don’t have a crypto wallet anywhere in the world, so I couldn’t have asked for funds to be credited to a non-existent wallet,” Agbese asserted.
In an even stronger response, Agbese demanded that Gambaryan provide concrete evidence to support his claims. He also suggested that Gambaryan focus on clearing his own name, referring to an incident where Gambaryan’s associate had reportedly escaped from prison.
“Gambaryan and his associate, who escaped from prison, should return to the EFCC and defend themselves. Instead of trying to implicate me, they should focus on addressing the allegations against them,” Agbese said. He further warned Gambaryan to retract his statements within seven days, or face legal consequences.
“I demand that, failing to provide evidence, Tigran Gambaryan must retract his malicious claims and apologise to me within the next seven days or face legal action from my lawyers,” Agbese stated.
This legal dispute comes amidst increasing international scrutiny over the cryptocurrency industry and its growing influence in Nigeria and beyond. Binance, one of the world’s largest cryptocurrency exchanges, has faced regulatory challenges in multiple countries, including Nigeria, where the government has taken steps to curb cryptocurrency transactions due to concerns over illegal activities and financial stability.
However, these bribery allegations also appear to be part of a broader pattern, according to Agbese, who suggested that foreign entities have been trying to discredit Nigerian public office holders who are seen as nationalistic or independent. “This is not the first time, attempts have been made to smear my reputation,” Agbese said. “I will not allow baseless accusations to go unchallenged.”
In Nigeria, bribery allegations against public officials are a serious matter, as they can undermine public trust in government institutions. Agbese’s firm denial and his challenge to Gambaryan to back up his claims with proof are aimed at protecting his reputation and sending a clear message that such serious accusations must be supported by evidence.
The threat of legal action, should Gambaryan fail to provide evidence, signals that Agbese is prepared to defend his name in the courts. Legal experts suggest that if Agbese follows through on his threat, it could lead to a protracted legal battle with serious consequences for both parties. If Gambaryan is unable to back his allegations with credible evidence, he could face a lawsuit for defamation.
Furthermore, this incident highlights the ongoing tension between Nigeria’s political leadership and international business interests, especially in sectors like cryptocurrency, where regulation and governance are still in development. While some see cryptocurrencies as a means to drive financial inclusion, others view them as a risk to the country’s financial system.
In recent years, Nigerian authorities have moved to regulate the cryptocurrency sector more closely. The Central Bank of Nigeria (CBN) has placed restrictions on banks facilitating cryptocurrency transactions, citing concerns over money laundering and terrorist financing. However, these actions have sparked debate about the role of cryptocurrency in Nigeria’s economy, with some lawmakers and entrepreneurs advocating for more lenient regulations.
In his final remarks, Agbese made it clear that he would not stand by while his reputation was tarnished by unfounded accusations. He highlighted that his efforts to clear his name were not only about defending himself but also about challenging a wider trend of discrediting Nigerian officials. “I will not allow baseless accusations to go unchallenged,” he concluded.
