Business
$150m bribe: Binance executive maintains stance as FG tells Nigerians to ignore him

Binance executive, Tigran Gambaryan, has maintained that his revelations about how Nigerian officials, including lawmakers and the National Security Adviser, demanded bribes of up to $150 million for his release during his detention in Nigeria, remain factual.
This comes after Nigeria’s federal government accused him of telling lies, while asking Nigerians to ignore him.
Gambaryan in a subsequent post on X on Saturday, said his revelations in the initiative post was only to fill the gaps left in a report on his ordeal by Wired and NPR.
“Many requested that I stay on and provide further commentary on the issues I posted about yesterday. Here’s the hard truth: what I shared was meant to fill in the gaps left by Wired and NPR’s reporting,” he said.
“The reality is that last year was incredibly painful for me and my family. I dedicated my life to fighting crime as a Special Agent with the United States Department of the Treasury and as a compliance profession. It was an honor to serve my country and it was a blessing that they came to my rescue and mobilized the full force of the U.S. government when I was in need. Being dragged through court on outrageous, baseless, and trumped-up charges didn’t just hurt me—it also brought immense pain to my family.
“I don’t want to see my kids cry because I’m not around. I don’t want to see videos of my 75-year-old mother on television in tears. I don’t want to see my wife crying on TV. I want to put this nightmare behind me and move on.
“What I shared was factual, based on my personal experiences and conversations with those who have direct knowledge of the events I discussed. Information that was shared with both Nigerian and U.S law enforcement. So please, allow me to leave this behind and find peace.
“I am no longer in law enforcement. The responsibility of seeing this through to a logical conclusion now falls on those still serving in United States and Nigeria.”
Gambaryan should be ignored – FG
Meanwhile, the federal government in a statement implored Nigerians to discountenance the “misinformation, false allegations, and defamatory statements” by Gambaryan who was recently tried in Nigeria “for financial malfeasance.”
The Minister of Information and National Orientation, Mohammed Idris, in a statement issued on Friday voiced concern over the “unfounded and false allegations” made by Gambaryan and appealed to Nigerians to disregard the claims.
The statement reads: “The Federal Government of Nigeria notes with concern the outrageous allegations, misinformation, and defamatory statements being disseminated by Tigran Gambaryan, an American personnel of Binance who was recently tried in Nigeria for financial crimes.
“While the Federal Government of Nigeria is hesitant to engage Mr. Gambaryan, given the high-level diplomatic intervention that resolved his case, we are obliged to set the records straight to stop his falsehoods from gaining ground.
“The first visit by Mr. Gambaryan and his colleagues to Nigeria was discretional on their part and the government was not officially involved. However, when the attention of the government was called to an alleged bribery demand during that trip, an investigation was immediately opened into it, though there was no formal complaint by anyone.
“Mr. Gambaryan’s second visit to Nigeria was part of a wider probe into the criminal manipulation of the Nigerian currency through peer-to-peer platforms like Binance, but investigators were frustrated by the tactics deployed by Gambaryan and his team.
“Mr. Gambaryan was released by the Nigerian government in October 2024 on humanitarian grounds and following a high-level diplomatic intervention that ended with tangible benefits for Nigeria. The government rejected Binance’s offer of a $5 million down payment in exchange for Mr. Gambaryan’s freedom, in favour of a more beneficial settlement with the American government.
“We categorically deny the retaliatory claims made by Mr. Gambaryan against Nigerian officials involved in his case, and we urge the public to disregard these false accusations in their entirety.
“It is essential to note that Mr. Gambaryan’s allegations are not only unsubstantiated but also lack credibility, given his apparent motive to discredit and intimidate those who ensured he faced justice.
“However, we are confident that both the Nigerian and American judicial systems will provide Mr. Gambaryan with a fair opportunity to substantiate his claims in court. Until then, we advise the public to exercise caution and not be swayed by Mr. Gambaryan’s unfounded and malicious claims.”