Tigran Gambaryan, a former US federal agent and Binance executive who was detained in Nigeria for eight months, has accused President Bola Tinubu’s administration of scapegoating Binance to cover up its economic failures.
Gambaryan alleged that the Nigerian government attempted to gain access to Binance’s database of Nigerian users to implicate certain opposition figures in the depreciation of the Naira.
Taking to X on Friday, Gambaryan described the situation as a “Mickey Mouse operation”, alleging that Nigerian lawmakers and security agencies deliberately manipulated the investigation into Binance to push a false narrative that the platform was responsible for an alleged $26 billion outflow from Nigeria.
Claims of Government Manipulation and Bribery
Gambaryan revealed that on January 5, 2024, he met with the Department of State Services (DSS) as a prerequisite to a meeting with the House of Representatives. He alleged that DSS officials hinted at full compliance with the lawmakers’ instructions.
At the House meeting, he claimed that three lawmakers—Peter Akpanke, Philip Agbese, and Ginger Obinna Onwusibe—staged a fake official setting with unplugged cameras and media presence before demanding a $150 million bribe in cryptocurrency.
“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.”
Gambaryan Exposes Alleged Cover-Up on Naira Devaluation
Gambaryan further alleged that the Nigerian government sought to manipulate Binance’s data to fabricate evidence against opposition politicians, portraying them as responsible for the Naira’s depreciation.
“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.”
He insisted that government officials were aware that the Naira’s sharp decline was due to monetary policies that removed government intervention rather than any crypto-related activities.
Background: Binance vs Nigerian Government
In early 2024, Gambaryan and his colleague Nadeem Anjarwalla travelled to Nigeria for regulatory discussions but were detained on money laundering and tax evasion charges. Gambaryan spent eight months in Kuje Prison, suffering harsh conditions before diplomatic intervention led to his release in October 2024.
In May 2024, Binance CEO Richard Teng publicly accused Nigerian officials of demanding a $150 million bribe to drop the case, an allegation the Nigerian government denied, calling it blackmail.
Gambaryan backed Teng’s claim, stating that the Nigerian government fabricated a false $26 billion outflow claim to divert attention from its economic struggles.
