Business

FG Dismisses Gambaryan’s ‘False Allegations,’ Says Binance Offered $5m Payment

Published

1 year ago

February 15, 2025

430 Views

The Federal Government on Friday dismissed the claims by Binance’s Head of Financial Crime, Tigran Gambaryan, who spent eight months in a Nigerian detention facility over alleged corruption.

Gambaryan, a U.S. citizen, was recently tried in Nigeria for financial crimes. He was released by the Nigerian authorities following intervention by the United States government.

In a post on X, he claimed that his unlawful arrest by the Nigerian government made former US President Joe Biden avoid a meeting he planned to have with President Bola Tinubu during the 2024 UN General Assembly (UNGA).

He blamed National Security Adviser Nuhu Ribadu for the situation and said the US government also reduced the size of the Nigerian delegation that could attend the annual global assembly.

The Binance executive also identified three Nigerian lawmakers who allegedly demanded a bribe of $150m from him.

However, the Federal Government urged the public to disregard the allegations entirely.

The Minister of Information and National Orientation, Mohammed Idris, described Gambaryan’s claims as a deliberate misinformation campaign.

“The Federal Government of Nigeria notes with concern the outrageous allegations, misinformation, and defamatory statements being disseminated by Tigran Gambaryan, an American personnel of Binance who was recently tried in Nigeria for financial crimes,” the statement read.

“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.”

Idris said the government stated that it was compelled to set the record straight to prevent falsehoods from gaining traction.

The minister also addressed Gambaryan’s claims of bribery attempt, stressing that his initial visit to Nigeria was entirely discretionary and not sanctioned by any government entity.

According to him, an investigation was promptly initiated after the alleged incident was brought to the government’s attention.

“The first visit by Mr. Gambaryan and his colleagues to Nigeria was discretional on their part and the 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,” he stated.

The Federal Government detained Gambaryan and his colleague, Nadeem Anjarwalla, a 37-year-old British Kenyan who serves as the regional manager for Africa at Binance.

Both were charged with money laundering involving $35 million, as initiated by the Economic and Financial Crimes Commission.

Anjarwalla managed to escape from custody on March 22, 2024.

Business

Naira Exchange Rates Thursday, 22 July

Published

4 hours ago

July 23, 2026

OCHEFA

23 Views

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1,405 Sell ₦1,410

GREAT BRITISH POUND (GBP) Buy ₦1,880 Sell: ₦1,900

EURO (EUR) Buy ₦1,580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

CBN OFFICIAL EXCHANGE RATES

US DOLLAR (USD) ₦1,369.63

GREAT BRITISH POUND (GBP) ₦1,833.12

EURO (EUR) ₦1,563.03

SWISS FRANC (CHF) ₦1,685.08

JAPANESE YEN (JPN) ₦8.40

CHINESE YUAN (CNY) ₦202.21

WEST AFRICAN CFA (XOF) ₦2. 39

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867.90

SAUDI RIYAL (SAR) ₦366.36

SOUTH AFRICAN RAND (ZAR) ₦83.40

Business

President Tinubu Tasks Judicial Officers To Remain Abreast of Evolving Global Maritime Laws

President Tinubu made the call in Abuja during the 18th International Maritime Seminar for Judges, organised by the Nigerian Shippers’ Council (NSC), under the auspices of the Federal Ministry of Marine and Blue Economy, in collaboration with the National Judicial Institute (NJI).

Published

20 hours ago

July 22, 2026

OCHEFA

30 Views

President Bola Tinubu on Wednesday urged judges to continually update their knowledge on autonomous vessels, digital shipping, artificial intelligence-driven maritime operations, maritime security and evolving international environmental regulations.

Represented by the Minister of Marine and Blue Economy, Adegboyega Oyetola, President Tinubu lauded the Nigerian Shippers’ Council for initiating and sustaining the international seminar for judges.

He described it as one of Nigeria’s foremost platforms for strengthening maritime jurisprudence, enhancing judicial capacity and promoting excellence in maritime justice.

According to Oyetola , rapid technological advancement is creating unprecedented legal questions relating to liability, navigational responsibility, insurance, collision regulations and allocation of responsibility when autonomous vessels malfunction.

He emphasised that the courts will increasingly adjudicate disputes involving decarbonisation, environmental compliance, blockchain-enabled cargo documentation, electronic bills of lading and other evolving international maritime legal frameworks.

“The emergence of autonomous vessels demands a judiciary equipped to resolve complex legal questions involving liability, insurance, navigation and technological accountability.

“Judicial officers must remain abreast of evolving international maritime law to ensure justice keeps pace with technological innovation,” he said.