FG Reacts to Binance’s Gambaryan Allegations Against Ribadu, Lawmakers

The Federal Government has urged citizens to dismiss allegations made by Tigran Gambaryan, an American official of Binance, labeling them as false and misleading.

In a statement released on Friday in Abuja, Minister of Information and National Orientation Mohammed Idris addressed the matter, emphasizing the government’s concern over what he described as outrageous allegations, misinformation, and defamatory statements from Gambaryan, who was recently tried in Nigeria for financial crimes.

Idris stated that while the government had initially chosen not to engage Gambaryan on the issue, given the diplomatic intervention that facilitated his release, it now found it necessary to correct the narrative and prevent the spread of falsehoods.

According to the minister, Gambaryan’s first visit to Nigeria was discretionary, without any official involvement from the government. When reports emerged of an alleged bribery attempt during that visit, an investigation was promptly launched, even though no formal complaint was filed.

The minister further noted that Gambaryan’s second visit was part of a broader investigation into the criminal manipulation of the Nigerian currency through peer-to-peer platforms like Binance. However, he claimed that efforts to investigate were hindered by Gambaryan and his team’s tactics.

Idris clarified that Gambaryan was released in October 2024 on humanitarian grounds, following diplomatic negotiations that resulted in significant benefits for Nigeria. He also revealed that the government had rejected a $5 million down payment from Binance in exchange for Gambaryan’s freedom, opting instead for a more favorable settlement with the U.S. government.

Dismissing Gambaryan’s claims of retaliation against Nigerian officials, Idris urged the public to disregard what he described as baseless accusations. He stressed that Gambaryan’s allegations were unsubstantiated and lacked credibility, suggesting they were aimed at discrediting those responsible for ensuring he was held accountable.

The minister reaffirmed confidence in both Nigerian and American judicial systems, expressing assurance that Gambaryan would have the opportunity to substantiate his claims in court. Until then, Idris advised the public to exercise caution and not be misled by what he called malicious and unfounded assertions.