A Binance executive, Tigran Gambaryan, recently detailed his eight-month ordeal involving detention by Nigerian authorities. He alleges a massive bribery scheme and accuses officials of incompetence and greed.
The Arrest and the $150 Million Bribe
Gambaryan, Binance’s VP of Global Intelligence and Investigations, and his colleague Nadeem Anjarwalla (regional manager based in Kenya) were detained in February 2024 as part of Nigeria’s crackdown on Binance. Gambaryan claims their January 5th meeting with Nigerian Department of State Services (DSS) officials was a setup. He describes the meeting as a “Mickey Mouse operation,” with fake cameras and media to create the illusion of legitimacy. The real goal, he alleges, was to extort a $150 million bribe in cryptocurrency. This bribe demand was previously reported by Binance CEO Richard Teng. Gambaryan and Anjarwalla refused to pay and fled the country. Gambaryan was later tricked into returning to Nigeria.
Accusations of Incompetence and Corruption
Gambaryan leveled serious accusations against several Nigerian officials. He claims that Hamma’Adama Bello, an Economic and Financial Crimes Commission (EFCC) officer, admitted to fabricating evidence to justify their detention. Gambaryan also points out the wrongful detention of innocent EFCC detectives following Anjarwalla’s escape. He further accuses Nigerian authorities of attempting to violate international privacy laws by demanding user data to target political opponents. He believes the greed and incompetence of these officials severely damaged Binance’s relationship with Nigerian law enforcement and led to his unlawful detention.
The Aftermath
Gambaryan’s account paints a picture of a corrupt system exploiting its power. He’s calling for justice and accountability for those involved in his detention and the alleged bribery attempt. His experience highlights the risks faced by businesses operating in environments with weak governance and high levels of corruption.
