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Tag: Tigran Gambaryan

  • Nigeria versus Binance’s Gambaryan

    Nigeria versus Binance’s Gambaryan

    SIR: Nigeria is one of the most important countries in Africa and a key player in the global Black community. Its economic strength, strategic geographic location, and influence in international affairs have made it a major hub for investment and business. It is no surprise, then, that Binance and its leadership were drawn to Nigeria, seeing the country as a lucrative market.

    However, recent developments involving Binance executive, Tigran Gambaryan have raised serious concerns. His wild and unsubstantiated allegations against high-ranking Nigerian officials and lawmakers are not just an insult to the nation but a blatant attempt to blackmail and tarnish Nigeria’s image. Such reckless accusations should not be ignored, as they undermine the country’s sovereignty and credibility on the global stage.

    The government must not take this matter lightly. Further diplomatic, legal, and economic measures should be pursued against Tigran and his company, Binance, to ensure that such behaviour is met with firm consequences. If Nigeria fails to act decisively, it risks setting a dangerous precedent—one where foreign actors can manipulate narratives, evade responsibility for economic crimes, and attempt to pressure the country through international channels.

    This situation is not happening in isolation. In early 2024, Binance was accused of operating illegally in Nigeria, engaging in forex manipulation, and conducting economic activities that destabilized the Naira. Both Tigran Gambaryan and Nadeem Anjarwalla were arrested and charged with money laundering and illicit financial transactions. While Anjarwalla managed to escape, Tigran was released on diplomatic, health, and compassionate grounds—a gesture of goodwill that is now being repaid with hostility.

    Read Also: I stand by my $150m bribery allegation, says Binance’s Tigran Gambaryan

    Nigeria cannot afford to tolerate individuals like Tigran, who not only engage in questionable financial practices but also resort to baseless and outrageous accusations against the country’s leadership. If strong and unapologetic action is not taken, we will likely witness more figures like Tigran exploiting diplomatic loopholes and using ‘below-the-belt’ tactics to evade accountability for their economic crimes.

    The government must further explore all available legal options, including international legal action and targeted economic sanctions against Binance, to hold those responsible accountable. Nigeria is not a playground for foreign business entities looking to manipulate its financial system while disrespecting its institutions and high ranking officials including lawmakers.

    Nigeria has the capacity to defend its interests and safeguard its stability. It must act decisively to ensure that those who attempt to undermine its economy and reputation face the full weight of the law. If necessary, international diplomatic channels should be leveraged to demand a formal apology from Tigran Gambaryan.

    Nigeria’s sovereignty, financial stability, and international standing must be protected at all costs. Any attempt to blackmail or pressure the country must be met with strong resistance, ensuring that Nigeria remains in control of its economic and political destiny.

    • Zayyad I. Muhammad, Abuja.
  • $150m bribe: Murray-Bruce challenges Tigran Gambaryan to undergo lie detector test

    $150m bribe: Murray-Bruce challenges Tigran Gambaryan to undergo lie detector test

    The founder of the Silverbird Group, Ben Murray-Bruce has challenged Binance’s Head of Financial Crime Compliance, Tigran Gambaryan to undergo a lie detector test over his $150m bribery allegation. 

    Gambaryan had alleged that some members of the House of Representatives demanded a $150 million bribe from him during a meeting in Abuja to halt the probe.

    The Minister of information and national orientation, Mohammed Idris dismissed Gambaryan’s allegations as “outrageous” and “defamatory”.

    Reacting, the former Bayelsa East Senator swore on his life that Gambaryan was lying, demanding that he should submit to a lie detector test in a neutral country. 

    Read Also: Why we’re still in Togo, Benin varsities despite FG’s ban on their certificates — Nigerian students

    Murray-Bruce on his verified x page said: “I have known Mallam Nuhu Ribadu my entire life, and I can say with absolute certainty that he is incapable of the allegations being levelled against him. 

    “I challenge @TigranGambaryan to undergo a lie detector test if he genuinely believes the claims he has made. 

    “It is exhausting to witness individuals repeatedly dragging Nigeria’s name through the mud with baseless accusations and fabricated evidence.

    “@TigranGambaryan should consider himself fortunate to have been allowed to leave because if Nuhu had his way, I am supremely confident he would have ensured that he remained behind bars for a hundred years. 

    “I swear on my life—Girma is lying, and I demand that @TigranGambaryan submit to a lie detector test in a neutral country, excluding both the United States and Nigeria.

    “Furthermore, I hope @TigranGambaryan begins drafting the public apology he will inevitably have to issue once he fails that test. 

    “Individuals like him must be decisively dealt with, ensuring that such reckless fabrications are not only exposed but also serve as a warning to other deceitful actors who seek to undermine Nigeria.”

  • I stand by my $150m bribery allegation, says Binance’s Tigran Gambaryan

    I stand by my $150m bribery allegation, says Binance’s Tigran Gambaryan

    The head of financial crime for the crypto firm Binance, Tigran Gambaryan, has maintained the $150m bribery allegation was true. 

    Gambaryan had alleged that some members of the House of Representatives demanded a $150 million bribe from him during a meeting in Abuja to halt the probe.

    Although his claims had since been dismissed by the lawmakers and the Federal Government, he reaffirmed that all that happened was nothing but the truth. 

    The controversy between Binance and Nigerian authorities dates back to early 2024 when the government accused the cryptocurrency platform of manipulating foreign exchange rates.

    The government subsequently detained Gambaryan and another Binance executive, Nadeem Anjarwalla, when they arrived in Nigeria for discussions in February 2024. 

    Read Also: Why we’re still in Togo, Benin varsities despite FG’s ban on their certificates — Nigerian students

    While Anjarwalla later escaped, Gambaryan remained in custody until he was released based on the intervention of the US authorities. 

    Reacting on his verified “X” page, he said: “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.

    “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 mobilised 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.”

  • UPDATED- Court orders release of Gambaryan from Kuje Prison after FG drops charge 

    UPDATED- Court orders release of Gambaryan from Kuje Prison after FG drops charge 

    A Federal High Court in Abuja, on Wednesday, ordered the release of Mr Tigran Gambaryan, the detained Binance Holdings Limited’s executive, from Kuje Correctional Centre.

    Justice Emeka Nwite gave the order after the Economic and Financial Crimes Commission (EFCC)’s counsel, R. U. Adagba, informed the court of the decision of the Federal Government to withdraw the charge against Gambaryan.

    Adagba, who held the brief of Ekele Iheanacho, SAN, premised the decision on Gambaryan’s deteriorating health and the diplomatic intervention.

    The News Agency of Nigeria (NAN) reports that Gambaryan was the 2nd defendant in the charge preferred against the cryptocurrency platform (1st defendant) by the EFCC.

    The EFCC had, on April 8, arraigned Binance Holdings Ltd and Gambaryan before Justice Emeka Nwite of a Federal High Court sitting in Abuja.

    They were arraigned on a 5-count charge bordering on alleged tax evasion, currency speculation and money laundering to the tune of $34,400,000 (Thirty-Four Million, Four Hundred Thousand United States Dollars).

    The Binance representative’s bail application was rejected twice by the court.

    NAN reports that Justice Nwite had, on Oct. 18, fixed Friday, Oct. 25, for a report on the heath status of Gambaryan.

    The development followed an information from an officer of the Nigerian Correctional Service (NCoS) who was in court on the last adjourned date that Gambaryan’s absence in court was due to his ill-health.

    The matter was however rescheduled for today due to the urgency of the case.

    Upon resumed hearing, EFCC’s counsel, Adagba, told Justice Nwite of the Federal Government’s decision to withdraw the charge against the detained employee of Binance because of his deteriorating health.

    Adagba recalled that the case could not go on at the last adjourned date as a result of the health condition of the 2nd defendant which, she said, the government had managed effectively.

    She, however said that recently, the report they received from the NCoS, through the Office of the National Security Adviser (NSA), indicated that Gambaryan’s health had deteriorated to the extent that he hardly walked without the assistant of wheelchair.

    Read Also: Binance: EFCC continues criminal charge against Gambaryan

    Adagba said besides his ill-health, Gambaryan needs to undergo a surgery which surgery and recovery would take some time that may impact on the pace of the trial.

    He stated further that the government had reviewed the case and had taken cognisance that Gambaryan, a U. S. citizen, was a mere employer of Binance Holdings Ltd, “whose status in the matter has no impact.”

    The lawyer equally told the court that the prosecution had taken into consideration of some critical diplomatic and international meetings by Federal Government, hence, the need to discontinue the charge against the 2nd defendant (Gambaryan).

    “I urged the honourable court to discharge the 2nd defendant accordingly in line with Section 108(1), (2)(a) of the Administration of Criminal Justice Act (ACJA), 2015,” she prayed.

    Lawyer to Binance, Olujoke Aliu, and Gambaryan’s counsel  Mark Mordi, SAN, did not oppose the application.

    However, Mordi, who told the court that since one of the reasons for withdrawal of the case was that Gambaryan was just an employee of Binance, urged the court to make an order for his client’s acquittal and not a discharge.

    Delivering the ruling, Justice Nwite granted Adagba’s application.

    “It is hereby ordered as follows:

    “That the application of the prosecution’s counsel is granted as prayed having reviewed the circumstances of the charge.

    “That this charge is hereby struck out against the 2nd defendant (Gambaryan).

    “That the 2nd defendant is hereby discharged.

    “That an order of this honourable court is hereby made for the immediate release of the 2nd defendant from Nigerian Correctional Service, Kuje,” the judge ruled.

    He consequently adjourned the matter until Nov 22 and Nov. 25 for continuation of trial.

    NAN observes that Gambaryan was again not in court.

    (NAN)

  • BREAKING: Fed Govt stops Binance’s official Gambaryan’s trial over alleged money laundering

    BREAKING: Fed Govt stops Binance’s official Gambaryan’s trial over alleged money laundering

     The Federal Government has discontinued the prosecution of an official of Binance Holdings Limited, Tigran Gambaryan on money laundering related offences.

    Gambaryan was being tried with his employer, Binance before a Federal High Court in Abuja on a money laundering charge brought against them by the Economic and Financial Crimes Commission (EFCC).

    On Wednesday, prosecuting lawyer, R. U. Adagba, told the court that the prosecution has decided to withdraw against the second defendant, Gambaryan.

    Adagba said the prosecution’s decision to discontinue further prosecution of the second defendant was informed by his health challenges.

    She said the prosecution would proceed against the first defendant – the firm – in the absence of the second defendant.

    Read Also: Binance: EFCC continues criminal charge against Gambaryan

    Lawyer to the defendant was not opposed to the prosecution’s decision to withdraw against the second defendant.

    Ruling, Justice Emeka Nwite granted the prosecution’s request and proceeded to discharge Gambaryan from the case.

    Justice Nwite adjourned till November 22 for the continuation of trial.

    Details Shortly.. 

  • Declare detained Binance executive hostage, US officials tell Biden

    Declare detained Binance executive hostage, US officials tell Biden

    • Gambaryan very sick, says Correctional Service

    Eighteen state attorneys general in the United States of America (USA) are asking President Joe Biden and Secretary of State Antony Blinken to designate the detained Binance Holdings Limited’s executive, Tigran Gambaryan a hostage in Nigeria.

    Gambaryan, a US citizen, is currently standing trial alongside the company for  alleged money laundering at the Federal High Court ,Abuja.

    The attorneys general in a joint letter to Biden and Blinken, said their proposal for Gambaryan’s designation as hostage should be pursuant to the Robert Levinson Hostage Recovery and Hostage-Taking Accountability Act.

    They expressed grave concern for the life of the accused who is a former law enforcement leader and claimed that he is being unlawfully detained by Nigeria.

    The attorney general of New Hampshire John M. Formella described Gambaryan as a dedicated public servant who has “devoted his life to upholding the law and protecting American values.”

    Formella said: “His continued detention without cause is not only a violation of his rights but also poses a severe risk to his health and well-being.

    Read Also: Nigeria records 500 building collapses in 14 years, says NIA

    “We must act decisively to ensure his safe return to his family before it’s too late. It is our duty to advocate for U.S. citizens abroad, and we urge the federal government to apply the necessary diplomatic pressure to secure his release.”

    The US law enforcement officers were of the view that designation of Gambaryan as a hostage pursuant to the Levinson Act would unlock critical resources and apply diplomatic pressure, increasing his chances for an immediate release.

    Their statement came on a day Gambaryan’s trial was scheduled to resume in Abuja.

    He was, however, absent in court with his counsel Mark Mordi (SAN) and that of the Economic and Financial Crimes Commission (EFCC), Ekele Iheanacho (SAN) saying they knew nothing about his whereabouts.

    Justice Emeka Nwite had on October 11, fixed yesterday for continuation of trial in his case.

    The development followed the rejection of Gambaryan’s second bail application by Justice Nwite.

    However, when the matter was called yesterday, all the counsel to the parties in the case were in court except the 2nd defendant, Gambaryan.

    The judge then asked Gambaryan’s lawyer of the whereabouts of his client.

    Mordi said he did not know why his client was not in court.

    Also, the EFCC’s lawyer  said he was surprised Gambaryan was not in court.

    Iheanacho therefore sought a stand down to enable them inquire from the management of the Nigerian Correctional Service (NCoS) on what went wrong.

    Counsel to Binance, Tonye Krukrubo, SAN, equally expressed worry over the absence of Gambaryan in court.

    He said the EFCC should be able to tell why he was not in court.

    “He is in their custody. It is funny they are saying they do not know his whereabouts,” he said.

    “Was he not taken to the correctional centre on the day the matter was adjourned,” the judge asked.

    Justuce Nwite then asked the NCoS officer who was in court why Gambaryan was not produced for his trial.

    “Yes, my lord, he was taken to our custody,” the officer said in the open court.

    “Do you not know his whereabouts,” Justice Nwite further asked.

    “He is in our custody,” the officer insisted.

    The judge, who asked him who was in-charge-of the Kuje Correctional Centre, directed the officer to put a telephone call to him.

    “Call him and tell him the court is worried about his whereabouts,” the judge added

    Justuce Nwite then stood down the matter.

    When the court reconvened, Justice Nwite asked the NCoS officer about his findings.

    The officer said he had been able to get in touch with his boss.

    “I was told that he (Gambaryan) is very sick and that is why he could not be produced in court,” he responded.

    Mordi prayed the court for an adjournment.

    “I urge for a date next week if only to report on the 2nd defendant’s state of health.

    “This will allow parties to take necessary steps to ensure that the defendant is given the medical care required,” he said.

    Iheanacho did not oppose Mordi’s oral application.

    The lawyer said though he would have wanted the matter to proceed since their witness was in court, “we are also of concern about the defendant’s health status.”

    “We are very concerned about the issues of health.”

    The judge subsequently adjourned the matter until October 25 for a report about Gambaryan’s health.

  • Court rejects Binance executive’s fresh bail plea

    Court rejects Binance executive’s fresh bail plea

    A Federal High Court in Abuja, has dismissed a fresh bail application filed by the detained Binance Holdings Limited’s executive, Tigran Gambaryan.

    Justice Emeka Nwite, in a ruling yesterday, dismissed the application on the ground that it constituted an abuse of court process.

    Justice Nwite held that Gambaryan’s request cannot be granted when he was still challenging the earlier bail ruling at the Court of Appeal.

    The judge, who stressed that the defendant failed to withdraw his pending appeal against the earlier ruling on his bail application before filling another motion, said such an act amounted to an abuse of court process.

    He further held that Gambaryan had not shown to the court that the Nigerian Correctional Service (NCoS) had no enough facility or had failed to take care of his ill-health.

    Read Also: FACT-CHECK: Can CNG cars, trucks, vehicles explode?

    “Therefore, the facts before the court have shown that the Nigerian Correctional Service has the capacity to treat the second defendant,” he said.

    The judge, however, ordered the NCoS to refer Gambaryan to any standard hospital in Abuja for  a period of two to three days.

    He subsequently adjourned the matter until Oct. 18, Nov. 22 and Nov. 25 for continuation of trial

     The News Agency of Nigeria (NAN) reports that Justice Nwite had fixed today for the ruling on the second bail application due to his absence  in court on Wednesday.

    The Economic and Financial Crimes Commission (EFCC), Ekele Iheanacho, SAN, had, on Sept. 4, vehemently opposed the bail application moved by Mark Mordi, SAN,  on Gambaryan’s behalf.

    Iheanacho, who argued that the Binance executive was being given the best medical treatment by the Nigerian Correctional Service (NCoS), alleged that Gambaryan, at one time, rejected the medical intervention by the State House Clinic in Abuja

    The lawyer drew the attention of the court to the State House Clinic’s medical report.

    He stated that despite  that Gambaryan’s ill-health was not as worse as it was being portrayed, the report showed that the defendant was dissatisfied with the medical attention being offered and rejected it.

  • Binance executive on lawful trial has access to quality medical care – FG

    Binance executive on lawful trial has access to quality medical care – FG

    The federal government has refuted claims that Binance executive, Tigran Gambaryan, is being held in unsavoury prison conditions or that his health is deteriorating in Nigeria.

    Minister of Information and National Orientation, Mohammed Idris, dismissed the allegations as baseless and misleading.

    In a statement issued on Friday, June 21, the minister clarified that Gambaryan is being lawfully detained and has access to quality medical care whenever needed.

    According to him, the Binance Executive also has full access to consular services from his home government.

    Read Also: Arraignment of Binance executive

    The statement read: “It has become necessary for the Federal Government of Nigeria to address claims that Binance Executive, Tigran Gambaryan is being held in unsavoury prison conditions in Nigeria, or that his health is deteriorating.

    “We would like to state that these allegations are false and should be ignored. Gambaryan is being held in lawful detention and has access to quality medical care whenever required. He also has full access to consular services from his home government.

    “The federal government will not do anything to jeopardize his fundamental rights to lawful trial, and to quality care, including healthcare, even as he undergoes trial by the laws of the Federal Republic of Nigeria.

    “It is worth reiterating that his detention is a court-ordered one, and only the court can alter the terms or direct his release.

    “The federal government of Nigeria will continue to follow due process in its quest to bring Binance to justice — a legitimate sovereign quest that is similarly being pursued in several other countries around the world.

    “This adherence to legal and diplomatic standards underscores Nigeria’s dedication to upholding justice and maintaining the integrity of its judicial processes. The executive is being treated with the utmost fairness, and his legal and human rights are being protected throughout the judicial proceedings.”