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Binance Executive Accuses Nigerian Lawmakers of $150M Bribe Demand
Tigran Gambaryan, an executive at Binance Holdings Limited, has accused three Nigerian federal lawmakers of demanding a $150 million bribe amid the cryptocurrency firm’s dispute with the Nigerian government.
According to Gambaryan, the lawmakers requested that the payment be made in cryptocurrency and deposited into their personal digital wallets.
Background of the Dispute
Gambaryan was detained by the Nigerian government from February to October 2024 due to Binance’s operations in the country. He and Binance’s regional manager for Africa, Nadeem Anjarwalla, were arrested in February 2024 after traveling to Nigeria for a meeting with government officials.
The federal government had accused Binance of manipulating foreign exchange (FX) rates and negatively impacting Nigeria’s economy. Anjarwalla later escaped custody in March 2024, leaving Gambaryan to face prosecution alone.
Allegations Against Lawmakers
In a post on social media platform X, Gambaryan revealed that he and Anjarwalla had initially met with the Department of State Services (DSS) in January 2024 as a prerequisite to a meeting with members of the House of Representatives. He claimed the DSS advised them to comply with whatever the lawmakers requested.
“At the House meeting, there were three members present. They set up fake cameras and media to make the meeting appear official, but the cameras weren’t even plugged in,” Gambaryan wrote.
“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.”
Previous Claims and Government Response
In May 2024, Binance CEO Richard Teng also alleged that unidentified individuals in Nigeria had demanded $150 million in digital currency to settle the company’s legal troubles.
The Nigerian government has denied the allegations, accusing Binance of attempting to blackmail the country.
