Abuja, Nigeria – A top Binance executive, Tigran Gambaryan, has accused Nigerian lawmakers and the State Security Service (SSS) of demanding a $150 million bribe from the cryptocurrency exchange while he was detained by the Nigerian government. He also alleged that National Security Adviser (NSA) Nuhu Ribadu sought billions of dollars to fund his political ambitions.
Gambaryan, a U.S. citizen and Binance’s head of financial crime compliance, made these claims in a statement on his X (formerly Twitter) account on Friday. He had been detained in Nigeria for eight months before being released in October 2024 following diplomatic intervention by the United States.
Bribery Allegations Against Lawmakers and SSS
Gambaryan alleged that the SSS facilitated a meeting between Binance and members of Nigeria’s House of Representatives, where lawmakers demanded the bribe.
“The DSS was involved in the House of Representatives matter,” Gambaryan wrote. “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.”
According to him, three lawmakers—Philip Agbese (Ado/Okpokwu/Ogbadibo Federal Constituency), Peter Akpanke (Bekwarra/Obudu/Obanliku Federal Constituency), and Ginger Obinna Onwusibe—set up a staged meeting with non-functional cameras to make it appear official before requesting that Binance pay $150 million in cryptocurrency to their personal wallets.
“At the House meeting, there were three members 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,” Gambaryan wrote.
“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.”
Ribadu’s Alleged Political Aspirations
Gambaryan also claimed that NSA Ribadu sought billions of dollars from Binance to support his political future but later found himself unable to proceed with the deal due to public scrutiny.
“Ribadu emphasized that he wanted billions in payouts to fund his future political ambition. However, when the corruption scandal came to light, he was trapped—because any settlement would now be perceived as a bribe. I guess he really wanted his boss’ job,” he stated.
He further alleged that Ribadu’s handling of the Binance case embarrassed Nigeria diplomatically, leading to strained relations with the United States.
“Ribadu overstepped his authority and embarrassed Nigeria in front of U.S. National Security Advisor Jake Sullivan,” Gambaryan wrote. “Ribadu acting like an asshole angered the White House and led to diplomatic repercussions—the U.S. limited visas to the Nigerian delegation for UNGA, and Biden refused to meet with Tinubu until my situation was resolved.”
Responses from Accused Lawmakers
Reacting to the allegations, Philip Agbese dismissed Gambaryan’s claims, describing him as a “drowning man” attempting to save himself.
“You know, when a man is drowning, he tries to hang on anything he sees,” Agbese said. “The allegations have been investigated by the Committee on Economic and Financial Crimes. They have addressed a press conference on the matter. The matter is in court.”
He further accused Binance of engaging in illicit financial activities, stating, “The allegation is not strange knowing the kind of business Binance people are into. You know what cryptocurrency means? It is a transaction that takes place between two criminals, people who facilitate transactions between criminals. I’m not a party to that.”
Ginger Onwusibe also declined to comment, citing ongoing legal proceedings. “I am already in court with them, so I don’t want to speak on the matter again,” he said.
Attempts to reach Peter Akpanke for comments were unsuccessful, as his contact information was not listed on the National Assembly’s website.
Background: Binance’s Legal Troubles in Nigeria
Gambaryan’s allegations come in the wake of his detention by Nigerian authorities in February 2024 amid a crackdown on Binance. The Nigerian government accused the exchange of facilitating illicit financial transactions and tax evasion, which led to a broader investigation into its operations in the country.
While Gambaryan and another Binance executive, Nadeem Anjarwalla, were detained, Anjarwalla managed to escape custody in March 2024. However, Gambaryan remained in Nigerian detention until October 2024, when diplomatic pressure from the U.S. government reportedly led to his release.
The case remains a subject of legal and diplomatic contention, with Binance maintaining that it has always cooperated with authorities while advocating for fair treatment of its executives.
Neither the NSA office nor the SSS has officially responded to the allegations. The SSS had previously shut down its media office and reassigned its spokesperson following the controversy.
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