Abuja, Nigeria – February 14, 2025 – On Friday, Nigeria’s Federal Government rejected “outrageous, unsubstantiated” allegations by Binance official Tigran Gambaryan, calling them defamatory attempts to undermine authorities.
Additionally, Information Minister Mohammed Idris urged public disregard, asserting the claims aimed to mislead and damage officials’ reputations in a formal statement.
The dismissal follows Gambaryan’s recent statements amid legal disputes after his 2024 trial for alleged currency manipulation via cryptocurrency platforms.
Previously, Gambaryan faced charges tied to peer-to-peer trading activities accused of destabilizing Nigeria’s financial systems before the current controversy.
He was later released in October 2024 on humanitarian grounds after high-level diplomatic negotiations between Nigeria and the United States.
According to the government, Mr. Gambaryan’s claims of misconduct by Nigerian officials are baseless and aimed at discrediting those who played a role in holding him accountable.
“We categorically deny the retaliatory claims made by Mr. Gambaryan against Nigerian officials involved in his case,” said Minister Idris.
“His allegations lack credibility and are clearly motivated by an intent to intimidate and tarnish reputations.”
Background of the Case
The Federal Government clarified that Mr. Gambaryan’s initial visit to Nigeria occurred independently, without any official involvement from Nigerian authorities.
However, during that visit, allegations of bribery demands surfaced. Despite no formal complaints being filed, the government acted promptly by launching an investigation into the matter.
Authorities linked Mr. Gambaryan’s subsequent visit to Nigeria to a broader probe, specifically targeting currency manipulation via platforms such as Binance.
During the investigation, authorities encountered major obstacles; the government alleged he and his team employed obstructive tactics.
The government also addressed claims regarding negotiations for Mr. Gambaryan’s release.
Minister Idris revealed that Nigeria rejected Binance’s offer of a $5 million settlement in exchange for his freedom.
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Instead, the government opted for a resolution through diplomatic channels that yielded “tangible benefits” for Nigeria.
Government’s Position
The Federal Government emphasized its commitment to upholding justice and transparency, reiterating that all actions taken in Mr. Gambaryan’s case were lawful and in line with international standards.
“It is essential to note that Mr. Gambaryan’s allegations are not only unsubstantiated but also lack credibility,” the statement read.
“The Nigerian government remains confident that both the Nigerian and American judicial systems will provide him with a fair opportunity to substantiate his claims in court.”
The government further urged the public to exercise caution when considering Mr. Gambaryan’s statements, warning against being swayed by what it described as “unfounded and malicious claims.”
Moving Forward
This development comes at a time when Nigeria is intensifying its efforts to regulate cryptocurrency activities within its borders.
Addressing financial risks, authorities warned that peer-to-peer platforms might facilitate illegal transactions like currency manipulation and money laundering.
Concluding the statement, Minister Idris vowed Nigeria would maintain transparent financial systems while strengthening oversight mechanisms to protect national economic interests.
Responding to critics, he declared, “We’ll defend regulatory actions against baseless attacks attempting to discredit public institutions and their officials.”
As legal proceedings advance, observers now monitor how Nigerian and American courts will resolve Tigran Gambaryan’s contested case details.
The government reiterated its unwavering stance against misinformation campaigns, rejecting narrative distortion through coordinated judicial and diplomatic channels.
