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Market News

Nigeria Government and Binance’s Tigran clash over corruption allegations

Written By:
Shruti Lakhlani

Reviewed By:
Vaibhav Jha

Last updated: February 17, 2025 2:53 PM
Published 2025-02-17
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Binance executive Tigran Gambaryan and Nigerian government engage in a war of words on Twitter over corruption allegations.

Days after formerly jailed Binance executive Tigran Gambaryan made some explosive allegations against officials of Nigerian government accusing them of blackmailing , torture and corruption, the latter has replied denying the statements made by Tigran.

Gambaryan, a U.S. citizen, was arrested in February 2024 in Nigeria after he was invited for a meeting with the government officials representing Binance exchange. Tigran, was charged on behalf of Binance, for money laundering and tax evasion and had to spend eight months in a prison in Nigeria before getting bail on humanitarian grounds.

After returning to US, Tigran has made some explosive allegations accusing officials of DSS (Nigeria State Security Services) and officials of Nigerian government of trying to extort $150 million from Binance in the form of cryptocurrencies. Tigran has also claimed that he was made a scapegoat in the case and tortured in custody despite being in ill health.

Now, the Nigerian government has responded to the allegations put forth by Tigran through a detailed statement put on X where they have completely denying the statements made by him. They have asked the X audience to “disregard falsehoods being peddled by Tigran Gambaryan against Nigerian government officials.”

Disregard Falsehoods Being Peddled by Tigran Gambaryan against Nigerian Government Officials – FG

The Federal Government of Nigeria notes with concern the outrageous allegations, misinformation, and defamatory statements being disseminated by Tigran Gambaryan, an American… pic.twitter.com/ZAXfExjNiJ

— Government of Nigeria (@NigeriaGov) February 14, 2025

The Nigerian government showed its discontentment toward Gambaryan’s comments claiming that his first visit did not receive official governmental endorsement until investigators started probing claims about alleged bribery activities. The government confirmed that the second visit of Tigran to Nigeria served to investigate peer-to-peer platforms such as Binance but Gambaryan’s team actively hampered the process.

The Nigerian government has also claimed in their statement that Gambaryan secured his release from prison after high-profile diplomatic intervention occurred in October 2024 under humanitarian circumstances. They also alleged that Binance attempted to free Gambaryan by paying a $5 million ransom but the Nigerian authorities discarded this proposal.

Maybe you should take the time to get your facts straight before posting. I was invited by the Nigerian FIU to a meeting in January. Last time I checked, they are part of the Nigerian government. House members also invited us to the meeting. Last time I checked, the legislative…

— Tigran Gambaryan (@TigranGambaryan) February 14, 2025

Meanwhile, Gambaryan also responded to the Nigerian government officials on their X post and accused them of lying through their teeth. Gambaryan rejected the claim his release was due to humanitarian factors by stating he spent his detention period in a secured facility under deceptive criminal allegations. He emphasized two contradictions in the government statements regarding the investigation procedure while noting the absence of his inclusion in the process.

Gambaryan finished his address by strongly declaring his professional pedigree while hinting at future legal interventions because of the prolonged controversy. The case of Binance versus Nigeria is set to get messier now with the war of words between Tigran and government officials on X.

Also read : Treated like a caged animal in Nigeria, family suffered: Binance’s Tigran  

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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Shruti Lakhlani- Crypto Journalist at The Crypto Times
By Shruti Lakhlani
Follow:
Shruti Lakhlani is a Crypto Journalist with over 5 years of experience in media and digital content. She specializes in covering the latest developments in the cryptocurrency industry, including major updates in the U.S. markets and global regulatory policies.
Vaibhav Jha - Former Editor In The Crypto Times
By Vaibhav Jha
Vaibhav Jha is an Editor and Content Head at The Crypto Times. He comes on board with a vast array of experience working as a journalist for leading national and international English newspapers. He has a penchant for research and storytelling is his forte. When not working, Vaibhav can be found watching Hindi classic movies or listening to 90's music.

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