Binance: “He Must Prove His Allegations or Pay” – Agbese Sues Gambaryan for N1.5 Billion Over Bribery Claims

Philip Agbese, a member of Nigeria’s House of Representatives, has filed a lawsuit against Tigran Gambaryan, an executive of Binance Holdings Limited, over allegations of bribery. The lawmaker is demanding N1.5 billion in damages for what he describes as defamatory claims made by Gambaryan.

Gambaryan had taken to social media platform X on Friday to recount his experiences with Nigerian lawmakers, alleging that three of them, including Peter Akpanke and Agbese, had solicited a $150 million bribe in cryptocurrency. In response, Agbese denied any involvement in cryptocurrency transactions, stating that he does not own a crypto wallet and could not have requested funds to be transferred to a “non-existent wallet.”

Agbese initially issued a seven-day ultimatum for Gambaryan to either produce evidence supporting his allegations or issue a public apology. However, less than three days after making that statement, Agbese proceeded with legal action at the Federal Capital Territory (FCT) High Court in Maitama, seeking an injunction to prevent Gambaryan and his associates from making further allegedly defamatory statements.

In addition to monetary damages, Agbese is demanding that Gambaryan retract his statements. In a statement on Monday, the lawmaker explained that his decision to move forward with legal proceedings was necessary after Gambaryan reiterated his claims rather than retracting them.

Agbese emphasized that the lawsuit is not merely about financial compensation but about safeguarding his reputation and deterring others from making similar allegations. He stated that Gambaryan must appear in court to substantiate his claims or be prepared to meet the legal consequences of his actions.