From Victor Osula, Abuja
The Deputy Spokesperson of the House of Representatives, Philip Agbese, has threatened legal action against Binance executive, Tigran Gambaryan, over allegations that he and other lawmakers demanded a $150 million bribe while the cryptocurrency firm was facing scrutiny in Nigeria.
Gambaryan, Binance’s Head of Financial Crime Compliance, made the claims in an interview with Wired’s Andy Greenberg, where he detailed his eight-month ordeal in detention.
Gambaryan and his colleague, Nadeem Anjarwalla, were arrested in February 2024 upon arrival in Nigeria for discussions with government officials regarding Binance’s operations.
They faced charges of money laundering and tax evasion, but while Anjarwalla later escaped custody, Gambaryan remained in detention at the Kuje Correctional Centre until October 2024, when he was released due to health concerns and diplomatic intervention.
In his interview, Gambaryan alleged that lawmakers, including Agbese, the Chairman of the House Committee on Anti-Corruption, Ginger Obinna Onwusibe, and the lawmaker representing Obanliku/Obudu/Bekwara, Peter Akpanke, orchestrated a bribe request under questionable circumstances.
According to him, a meeting with the lawmakers on January 5, 2024, had the backing of the Department of State Service, which allegedly advised Binance executives to comply with any directives from the House members.
Gambaryan claimed, “They set up fake cameras and media to make the meeting appear official, but the cameras weren’t even plugged in.
As you may already know, this ended with them asking for a $150 million bribe, paid in cryptocurrency into their personal wallets. A Mickey Mouse operation at its best.”
In a swift reaction, Agbese dismissed Gambaryan’s claims as a ploy by foreign entities to undermine Nigerian lawmakers who advocate national interests.
Describing the allegations as false and defamatory, he challenged the Binance executive to provide evidence or retract the claim within seven days or face legal consequences.
“These allegations are completely baseless. I was never part of any meeting with any Binance executive regarding any financial transaction.
“The House leadership referred Binance to the appropriate authorities, and the company has since apologised,”Agbese stated in a post on X.
He further clarified that he is not a member of the House Committee on Economic and Financial Crimes and was only present at a meeting as a courtesy visit to his colleague, Peter Akpanke.
He added, “It was during this visit to Hon. Peter Akpanke’s office, alongside Hon. Peter Anekwe, that I learned they were interfacing with Binance representatives. That was my only interaction with them. I never attended any further meetings with Binance executives, the EFCC, or the DSS.”
Agbese also denied any involvement in cryptocurrency transactions, stating that he does not own a crypto wallet.
“I have never used cryptocurrency, nor do I have a crypto wallet anywhere in the world. So, it is impossible for me to request payment into a non-existent wallet,” he said.
He reiterated his demand for an apology from Gambaryan, failing which legal action would be taken.
Meanwhile, Gambaryan also refuted claims by the Central Bank of Nigeria that Binance facilitated suspicious transactions amounting to $26 billion.
CBN Governor, Olayemi Cardoso, had in February 2024 accused Binance of processing the transactions from unknown sources. However, Gambaryan dismissed the claim as misleading, arguing that the figures represented cumulative trade data rather than illicit fund movements.
He said, “The $26 billion they keep mentioning is complete nonsense. This was simply trade volume generated by Nigerians on the platform.
“For example, if someone trades $100 a hundred times, it adds up to $10,000 in volume, but in reality, only $100 was used. The authorities misrepresented this to justify their flawed investigation.”
He accused the Nigerian government of scapegoating Binance for the naira’s decline, stating that the devaluation was a direct result of President Bola Tinubu’s monetary policies.
“They knew the naira’s devaluation was due to Tinubu’s decision to remove currency controls. Instead of owning up to this reality, they pinned the blame on Binance,” he added.
