House Of Reps Chairman Files $3 Billion Defamation Lawsuit Against Binance Amid Allegations of Bribery and Financial Misconduct
The Chairman of the House of Representatives Committee on Financial Crimes, Ginger Obinna Onwusibe, slammed a $3 billion (N4.5 trillion) lawsuit against Binance and its CEO, Richard Teng, over bribery allegations made by a company executive.
Onwusibe Denies Bribery Claims
Onwusibe strongly refuted allegations that he solicited bribes from Binance, calling them “false, malicious, and defamatory.” The claims originated from Binance’s Head of Financial Crime Compliance, Tigran Gambaryan, who made them public via social media and international media outlets like NPR and WIRED.
In a statement titled ‘Limited Reaction to False, Malicious, and Defamatory Publications Against Me by Tigran Gambaryan of Binance,’ Onwusibe dismissed any suggestion of coordination between his committee and key regulatory agencies, including the Office of the National Security Adviser (ONSA), the Securities and Exchange Commission (SEC), the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC), or the Nigerian Financial Intelligence Unit (NFIU).
Binance’s Alleged Evasion of Nigerian Laws
According to Onwusibe, his committee’s investigation into Binance was prompted by a petition from a civil society organization alleging financial and economic crimes. He outlined that Binance requested a pre-hearing meeting, which was held on January 8, 2024, in his absence due to official duties. However, when the official hearing was scheduled for January 10, 2024, Binance’s CEO, Richard Teng, failed to attend, leading to multiple rescheduled dates, which the company also ignored.
Following Binance’s non-compliance, Onwusibe initiated a lawsuit in, demanding an apology, retraction, and damages of $3 billion. The case is currently before the High Court of the Federal Capital Territory, Abuja.
Binance’s Legal Troubles Worldwide
Onwusibe further highlighted Binance’s history of legal issues in multiple countries, including the U.S., Canada, India, and Uzbekistan, where the company has faced fines and convictions related to money laundering and unlicensed operations. He alleged that Binance was attempting to use misinformation and blackmail to evade accountability in Nigeria.
Details Of When The Federal Government Detained The Binance Executives
Meanwhile, When Nigerian authorities detained Tigran Gambaryan and his colleague, Nadeem Anjarwalla, Binance’s regional manager for Africa. Both executives sho were to face money laundering charges amounting to $35 million, as filed by the EFCC. Anjarwalla, a British-Kenyan national, managed to escape custody on March 22, 2024.
“I Will Clear My Name” – Onwusibe
Onwusibe reiterated his commitment to clearing his name legally and maintaining transparency in the ongoing investigation.
“My attention has been drawn to the publication by Mr. Tigran Gambaryan on his X (formerly Twitter) handle on February 14, 2025. I have been inundated with thousands of phone calls, messages, and visits from colleagues and others at the National Assembly,”
he said.
“I categorically deny any coordination between our Congressional investigation and the ONSA, SEC, CBN, EFCC, or NFIU. No one in the ONSA, including the NSA, Mr. Nuhu Ribadu, directed us to demand bribes from Binance, and no such bribes were ever demanded.”
He concluded by emphasizing that Binance must be held accountable for its alleged financial misconduct rather than resorting to deflection tactics.
As the lawsuit unfolds, all eyes remain on the Nigerian courts to determine the outcome of Onwusibe’s defamation claim against Binance and its CEO.
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