By Joke Kujenya
ALLEGATIONS OF misconduct levelled against Nigerian officials by Binance executive, Tigran Gambaryan have been described as false and misleading.
The Federal Government has refuted claims that it attempted to use the cryptocurrency firm to target opposition members and influence foreign exchange rates.
The controversy began after Gambaryan, who was detained in Nigeria from February to October 2024 over Binance’s financial dealings, alleged that the Nigerian government sought user data to track political opponents.
He claimed the authorities scapegoated Binance for the devaluation of the naira, which he attributed to President Bola Tinubu’s monetary policy.
The Nigerian government, through Minister of Information and National Orientation Mohammed Idris, dismissed Gambaryan’s statements as defamatory and an attempt to discredit officials involved in the case.
Idris clarified that Gambaryan’s initial visit to Nigeria was of his own accord and not at the government’s invitation. He also noted that while there were allegations of bribery linked to the visit, no formal complaint was lodged.
Authorities asserted that Gambaryan’s second visit was in connection with an investigation into the alleged manipulation of the Nigerian currency via peer-to-peer trading platforms like Binance.
However, investigators claimed their efforts were frustrated by the evasive tactics of the Binance team.
Gambaryan, in a statement on X (formerly Twitter), had alleged that Nigerian officials demanded user data on all Nigerians and falsely blamed Binance for the naira’s free fall.
He insisted that Binance refused to comply due to privacy concerns and international laws.
He also refuted reports that Binance’s regional manager for Africa, Nadeem Anjarwalla, escaped from custody during prayers, stating that Anjarwalla returned and later managed to flee under undisclosed circumstances.
Responding to these claims, the Nigerian government accused Gambaryan of spreading falsehoods to evade accountability.
Officials maintained that his detention was lawful, citing Binance’s role in facilitating illicit financial activities, including money laundering and tax evasion.
In March 2024, Anjarwalla’s escape from custody intensified scrutiny on the case.
The government subsequently charged Binance with financial crimes, while Gambaryan continued to face legal proceedings.
Reports later emerged that Binance’s CEO, Richard Teng, alleged that unknown figures in Nigeria demanded $150 million in cryptocurrency to resolve Binance’s legal troubles.
The government dismissed these claims as baseless and part of a coordinated blackmail campaign.
Gambaryan’s detention drew international attention, with his wife appealing for his release, citing deteriorating health.
The U.S. government intervened in October 2024, leading to the dropping of money laundering charges against him and his eventual departure from Nigeria.
While the Nigerian government insists that Gambaryan’s claims lack merit, it has reaffirmed its commitment to ensuring justice through legal channels.
Officials maintain that both the Nigerian and American judicial systems will determine the credibility of his allegations.
