Binance executive and U.S. citizen Tigran Gambaryan, who spent eight months in custody in Nigeria, has made explosive allegations against the incumbent Nigerian government, accusing its state services officials of demanding a bribe of $150 million by making Binance a scapegoat in a tax evasion case.
In a post on ‘X'(formerly Twitter), Gambaryan accused the officials of the Department of State Services (DSS) of Nigeria of deceiving him into attending a fake meeting with security officials wherein he was demanded a bribe of $150 million on behalf of the House of Representatives in Nigeria. Gambaryan was arrested in February 2024 on charges of money laundering and tax evasion as a representative of Binance in Africa.
Gambaryan had to spend eight months in custody in 2024 before he was finally granted bail on health grounds after intensified pressure from US lawmakers and Binance who termed his arrest and subsequent jail as a “witch hunt”. Tigran has claimed that Nigerian government has accused Binance of facilitating unreported crypto transactions worth $26 Billion from Nigeria.
According to Tigran, during their meeting on January 5, 2024, Nigerian government officials demanded a bribe of $150 million through cryptocurrencies that must be deposited into their private wallet accounts. According to his post, the meeting with DSS involved operators using fake cameras alongside staged media setup to create a false appearance of legitimacy.
“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,” said Tigran.
During the meeting, Gambaryan disputed the Nigerian government’s $26 billion claim of fund withdrawal through Binance because he believed these numbers reflected fake trade activity rather than money being removed. The Nigerian authorities used this narrative as a part of their larger initiative against Binance’s activities in the country.
Gambaryan explained that his illegal detention involved poor treatment while court took place in complete disregard of his worsening health condition. Multiple videos showed Gambaryan approaching the court with a limp thus conveying his evident physical distress while he screamed in anger. The defence team pressed for immediate medical care because he needed surgery for his herniated disc condition.
The prolonged eight-month detention drove worldwide authorities and human rights groups to jointly condemn the situation. Following increased public scrutiny Gambaryan obtained his freedom in late 2024 when the Nigerian authorities dismissed all pending legal charges against him. The ending of his incarceration through release leaves behind important accusations against Nigerian officials who face scrutiny for crypto regulation practices.
Also Read: Tigran Gambaryan: Is the Release of Binance Executive an implication of the U.S. Election?
