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Binance Exec alleges $150m crypto bribe demand by Nigerian lawmakers; NSA Ribadu accused of political funding scheme.
Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, has 150 million cryptocurrency bribe to halt his prosecution, while National Security Adviser (NSA) Nuhu Ribadu allegedly sought billions in crypto to fund future political ambitions. The explosive claims, detailed in a Saturday X (formerly Twitter) thread, have reignited scrutiny of Nigeria’s anti-corruption efforts and strained diplomatic ties with the U.S.
RELATED: Nigeria drops money laundering charges against Binance executive due to health and diplomatic pressure
Key Allegations: Bribes, Fabricated Evidence & Diplomatic Fallout
- Lawmaker Extortion Attempt
Gambaryan named Hon. Peter Akpanke (Cross River), Hon. Philip Agbese, and a third lawmaker under Ginger Obinna Onwusibe’s leadership, accusing them of staging a fake January 2024 House committee meeting to demand $150M in crypto. He alleged cameras were unplugged to disguise the “Mickey Mouse operation.” - NSA Ribadu’s Alleged Ambition
Gambaryan claimed Ribadu sought “billions in payouts” to finance political goals, complicating Binance’s negotiations. He accused Ribadu of hiring a U.S. law firm to broker Gambaryan’s release, which failed due to “incompetence and greed.” - Illegal Detention & Medical Neglect:
- Gambaryan and colleague Nadeem Anjarwalla were held illegally after a court order expired, per Gambaryan.
- Anjarwalla allegedly escaped detention in March 2024; Gambaryan accused officials of fabricating his “escape during prayers.”
- Gambaryan claims Nigerian authorities pressured Istanbul’s Nizamiye Hospital to deny him treatment and withhold medical records.
- Diplomatic Crisis:
Gambaryan linked Ribadu’s actions to strained U.S.-Nigeria relations, alleging Ribadu “angered the White House” by overstepping during talks with U.S. National Security Advisor Jake Sullivan. He claims this led to visa restrictions for Nigeria’s UNGA delegation and delayed Biden-Tinubu talks.
Government Denials & Counterclaims
- NSA’s Office: Dismissed allegations as “false and outrageous,” reaffirming Ribadu’s commitment to lawful processes.
- Lawmakers: Akpanke, Agbese, and Onwusibe denied involvement, calling Gambaryan’s claims a “smear campaign.”
- Central Bank of Nigeria (CBN): Maintains Binance’s activities destabilized the naira, citing $26B in “suspicious flows.” Gambaryan countered this was misinterpreted trade volume, not capital flight.
Broader Implications
- Crypto Regulation: Nigeria’s crackdown on Binance (banning its P2P platform in February 2024) risks scaring off foreign fintech investors.
- U.S. Relations: Gambaryan, a former U.S. Treasury agent, emphasized Washington’s role in securing his release, hinting at ongoing diplomatic friction.
- Anti-Corruption Credibility: The claims undermine President Tinubu’s anti-graft pledges, with Gambaryan labeling officials “muppets” harming Nigeria’s reputation.
Gambaryan’s X Thread Highlights
- On Bribe Demand: “They asked for $150M in crypto to make [charges] disappear. A joke, given my career fighting financial crime.”
- On Naira Devaluation: “Tinubu’s policies—not Binance—caused the naira’s fall. We became a scapegoat for their incompetence.”
- On Ribadu: “He wanted to be the ‘big man’ but embarrassed Nigeria globally. His greed destroyed trust in Nigerian law enforcement.”
Gambaryan spotlights risks of politicizing financial regulation
With Nigeria accounting for $56.7B in crypto transactions (2023 Chainalysis data), Gambaryan’s allegations spotlight the risks of politicizing financial regulation. The case could shape Africa’s largest economy’s approach to blockchain innovation and foreign investment.
