Binance Executive Tigran Gambaryan speaks out on detention ordeal in Nigeria

Binance executive Tigran Gambaryan has broken his silence on his detention in Nigeria, revealing a web of alleged shady dealings, international tensions, and involvement from top Nigerian officials, including National Security Adviser Nuhu Ribadu.

Gambaryan, who was detained in January 2024, shared his experience in a lengthy social media post, alleging that lawmakers had demanded a $150 million bribe to be paid in cryptocurrency to their personal wallets.

According to Gambaryan, members of the Nigerian House of Representatives orchestrated a meeting where he was pressured into agreeing to their demands. He claimed that the Department of State Services (DSS) was also involved in the matter.

“The DSS was involved in the House of Representatives matter. We met with them at their office on Friday, January 5, 2024, as a prerequisite to our meeting with the House of Representatives. They alluded to the fact that we had to comply with whatever the House members instructed us to do.”

“At the House meeting, three members were present. Two of them were Peter Akpanke and Philip Agbese, both working under the leadership of Ginger Obinna Onwusibe. There was a third House member, but I don’t recall his name.”

He further alleged that fake cameras and media were set up to make the meeting appear official, but they were not operational.

“They set up fake cameras and media to make the meeting appear official, but the cameras weren’t even plugged in. This ended with them asking for a $150 million bribe, paid in cryptocurrency into their personal wallets. A Mickey Mouse operation at its best.”

Gambaryan also implicated top Nigerian security officials, stating that the meeting with the National Security Adviser Nuhu Ribadu was part of a coordinated effort to pressure Binance.

“@NuhuRibadu invited us to the official meeting and worked through Sa’ad Abubakar. Another key figure in this situation was Hamma Adama Belloji. Ogunjobi was just a pawn; they used him too.”

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“This was sold as a friendly meeting with the NSA, the head of the SEC, and the CBN governor and included the discussion of the bribe solicited by the House of Representatives.”

He also dismissed the widely circulated claim that Binance facilitated the movement of $26 billion out of Nigeria.

“The $26 billion figure they kept pushing publicly as some mystery money escaping Nigeria is complete BS. This information was provided in response to their request and was simply cumulative trade data for Nigerians on the platform. This money didn’t leave Nigeria — it was just people buying and selling crypto.”

Gambaryan addressed the escape of his colleague, Nadeem Anjarwalla, clarifying that contrary to official reports, Nadeem did not flee during mosque prayers.

“They lied about Nadeem escaping during mosque prayers. In reality, he returned and escaped afterward. I don’t know exactly how he managed to flee. He emailed me in November, but we haven’t discussed the details of his escape. It’s possible he paid someone off, but I have no proof.”

He also refuted claims that Anjarwalla left Nigeria using his passport.

“If Belloji had simply checked his passport for a visa, he would have realized that Nadeem did not use that passport to travel to Nigeria.”

According to Gambaryan, Nigerian authorities fabricated evidence to continue detaining him after the expiration of a court order.

“Nadeem did not escape lawful detention — we were being held illegally. Belloji even admitted that he would fabricate evidence to obtain a court order to detain us for 14 days.”

“Once the court order expired, they were unable to get an extension from the judge. At that point, they continued holding us illegally and had no justification for doing so.”

He also alleged that the Nigerian government attempted to use Binance to violate international privacy laws by demanding user data on all Nigerians.

“They tried to use us to violate international privacy laws by demanding user data on all Nigerians to target opposition members allegedly ‘manipulating the price of the naira.’ However, they all knew that the naira’s devaluation was a direct result of Tinubu’s monetary policy, which depegged the naira from the dollar.”

In October 2024, it was reported that the Nigerian federal government had withdrawn the money laundering charges filed against Gambaryan. The Economic and Financial Crimes Commission (EFCC) had initially arraigned Binance and Gambaryan in April 2024 over alleged money laundering. This followed a clampdown on Binance over accusations of manipulating the naira’s value.

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The Nigerian government and Binance have remained at odds since Central Bank Governor Olayemi Cardoso alleged that $26 billion was funneled through Binance without a trace.

However, Gambaryan’s revelations suggest that the crackdown may have been influenced by other factors beyond financial transactions.