Minister: We rejected $5m bribe to release Binance official Gambaryan

The Minister of Information and National Orientation, Mohammed Idris, says the Federal Government rejected a $5 million bribe from cryptocurrency platform Binance to release its official, Tigran Gambaryan, while facing charges in Nigeria.

Idris made this known in a statement on Friday, February 14, 2025.

The minister said this in reaction to Gambaryan’s claims that three Nigerian lawmakers demanded a $150 million bribe from him while he was in detention.

Gambaryan, who was held in Nigeria for months over allegations of money laundering and aiding criminal activities, also alleged that the National Security Adviser (NSA), Nuhu Ribadu, demanded “billions in payouts from Binance for political ambition”.

Reacting, Idris described Gambaryan’s claims as “outrageous allegations, misinformation, and defamatory statements”, adding that the allegations lack credibility.

Idris said: “The first visit by Mr Gambaryan and his colleagues to Nigeria was discretional on their part and Government was not officially involved. However, when the attention of the Government was called to an alleged bribery demand during that trip an investigation was immediately opened into it though there was no formal complaint by anyone.

“Mr Gambaryan’s second visit to Nigeria was part of a wider probe into the criminal manipulation of the Nigerian currency through peer-to-peer platforms like Binance, but investigators were frustrated by the tactics deployed by Gambaryan and his team.

Binance executive: How 3 Nigerian lawmakers demanded $150m bribe from me

“Mr Gambaryan was released by the Nigerian government in October 2024 on humanitarian grounds and following a high-level diplomatic intervention that ended with tangible benefits for Nigeria. The government rejected Binance’s offer of a $5 million down payment in exchange for Mr. Gambaryan’s freedom, in favour of a more beneficial settlement with the American government.

“We categorically deny the retaliatory claims made by Mr Gambaryan against Nigerian officials involved in his case, and we urge the public to disregard these false accusations in their entirety.

“It is essential to note that Mr Gambaryan’s allegations are not only unsubstantiated but also lack credibility, given his apparent motive to discredit and intimidate those who ensured he faced justice.

“However, we are confident that both the Nigerian and American judicial systems will provide Mr Gambaryan with a fair opportunity to substantiate his claims in court. Until then, we advise the public to exercise caution and not be swayed by Mr Gambaryan’s unfounded and malicious claims.”

The Star