NewStats: 3,264,011 , 8,182,252 topics. Date: Monday, 09 June 2025 at 09:40 AM 11f36

The federal government of Nigeria has debunked allegations that the health of a United States Binance executive, Tigran Gambaryan is deteriorating while in custody at Kuje Correctional Service.

Mohammed Idris, Nigeria’s Minister of Information and National Orientation issued the rebuttal in a statement on Friday.

Without stating who he was referring to, his statement may not be unconnected with the recent post by two US of Congress, Representative French Hill (Republican) and Representative Chrissy Houlahan (Democrat) who visited Gambaryan at the Kuje Detention facility on June 19th 2024 and posted a video of the visit on X page calling for his release.

Gambaryan alongside Binance are being tried by the Economic and Financial Crimes Commission (EFCC) over allegations bordering on money laundering and foreign exchange contravention.

FG’s position on Gambaryan

In his statement, Idris advised those concerned to note that Gambaryan’s detention is based on an order of court.

The ministry explained that while the client is held in lawful custody, he has access to healthcare.

“It has become necessary for the Federal Government of Nigeria to address claims that Binance Executive, Tigran Gambaryan is being held in unsavoury prison conditions in Nigeria, or that his health is deteriorating.

“We would like to state that these allegations are false and should be ignored.

“Gambaryan is being held in lawful detention and has access to quality medical care whenever required,” Idris stated.

The minister stated that Gambaryan also has full access to consular services from his home government, assuring that the Federal Government will not do anything to jeopardize his fundamental rights to lawful trial, and to quality care, including healthcare, even as he undergoes trial by the laws of the Federal Republic of Nigeria.

The ministry stressed further,

“It is worth reiterating that his detention is a court-ordered one, and only the court can alter the or direct his release.

“The Federal Government of Nigeria will continue to follow due process in its quest to bring Binance to justice — a legitimate sovereign quest that is similarly being pursued in several other countries around the world.

“This adherence to legal and diplomatic standards underscores Nigeria’s dedication to upholding justice and maintaining the integrity of its judicial processes. The executive is being treated with the utmost fairness, and his legal and human rights are being protected throughout the judicial proceedings.

Gambaryan’s wife, Yuki had called on the EFCC to free her husband like the Federal Inland Revenue Service(FIRS) did recently.

The lawmakers backed her, saying Tigran has devoted his professional life to fighting money laundering and tax evasion, having spent ten years as an IRS Special Agent where he successfully led cyber and financial crime investigations.

At today’s proceedings, a director at the Security and Exchange Commission (SEC), Abdulkadir Abbas, continued his testimonies in EFCC’s case against Binance and Gambaryan, insisting that the cryptocurrency platform was not ed to operate in Nigeria.

The matter was further adjourned to July 1 for continuation of cross-examination.

More insights
SEC is a Federal Government agency that carries out registration of all capital market stakeholders, instruments to be traded on the market, and all the trading platforms.

In addition, the SEC makes rules and regulations on the capital market, conducts investigations, investigates enforcement as well as monitors the market.

Abbas, who had identified himself as Director, of Exchanges and Market Infrastructure (SEC), told Justice Emeka Nwite that the Naira P2P feature deployed by Binance as well as the number of people on the platform “adversely affected the official exchange rate.”

Nairametrics reports that a popular method of buying and selling crypto is through Peer-to-peer, otherwise known as P2P.

The seller and buyer are connected in what can be likened to a marketplace.

Binance and its executives are faced with two separate suits by the FIRS and EFCC; the former bordering on tax evasion while the latter on money laundering and foreign exchange contravention.

Nairametrics recalls that the executives have also instituted a fundamental rights case against agencies of the Nigerian government, citing a violation of their constitutional right to liberty but that of Anjarwallan was struck out for lack of diligent prosecution.

On February 28, Nigerian authorities detained the two senior Binance executives.

While FIRS has dropped its charges against Gambaryan and Anjarwalla, EFCC is apparently moving on with its case as of now.

Nairametrics gathered from sources that the EFCC believes Gambaryan and Nadeem allegedly played a role in its money laundering allegations.

Meanwhile, amid the development, several US political stakeholders are pressing its government to compel the Nigerian government to free Gambaryan.

https://nairametrics.com/2024/06/21/binance-tigran-gambaryans-health-is-not-deteriorating-in-kuje-prison-nigerian-government-replies-us-lawmakers/

Nigeria my country. But wait a minute, so Binance now determine the value of the currency of a supposed giant of Africa.

Hmmm. It's well.

What is the difference between Individual replying and presidential press release

Wetin musa no go see for gate ?

Why won’t the us lawmakers feel so? When we all know the deplorable state of our correctional facilities across country ain’t fit for a dog not to talk of a yankee CitiZeN.

It’s very simple, let Binance provide Nigeria with the details of the speculators and the people who laundered money through their platform. The guy will have been free since. Stop crying to Nigeria, let the wife sue Binance in the US.

MOPROGRESS:
Nigeria my country. But wait a minute, so Binance now determine the value of the currency of a supposed giant of Africa.

Hmmm. It's well.

Not Binance but the manipulators on Binance.
What value does the naira have that it will be the second most traded currency after the US Dollar on most crypto exchanges, nothing drives that except Speculation and it will be foolish to allow the greed of a few citizens affect the rest of us , so the government is doing very well with this case.
Those US lawmakers were lobbied by Binance , which is perfectly legal , but where their advocacy fall flat is Binance is facing similar charges in US and it's CEO was just sentenced after agreeing to pay a heavy fine..... If US can do that nothing will stop us, not even US Congress

I totally the government on this.

These crypto platforms kept doing havoc to nations economy and do not want to be held able.

Binance has faced several charges in the US, Europe and some Asian countries on similar offences.

What the government is asking for is not much, simply provide them with the details of where over $23b was channelled to and who are the people behind it.

You wonder why Naira kept entrying comatose and terrorists of different sects kept expanding their territories?

Standard Bank is facing similar case of terrorism financing and money laundry in the UK.

2mch:
It’s very simple, let Binance provide Nigeria with the details of the speculators and the people who laundered money through their platform. The guy will have been free since. Stop crying to Nigeria, let the wife sue Binance in the US.

Una go wait tire

Nigeria needs more consequential thinkers in the realm of policy implementation.
The ones who can envision scenarios before they make decisions, not these emotional failures.
You "abducted" a mid level Binance officer because you wanted some names
What was the effect
How does this contribute to the reputational risk
How does it encourage investors
Now you have the charges dropped and the matter debated on the floor of the US parliament with all sorts of asperions thrown
which you are countering every market day.

That is why leadership should not be by brawn
but brains. A leader must be able to control those under him since he should be smarter and like a chess maestro think tactifully.
Strong arm tactics was for the seventies.
We need leaders who think

.

unsavoury prison.... Smiles

Good riddance.

The US government won’t believe FG over their senators. They sent their people here to see things first hand and give them reports.

Court directed indeed. Court wey una dey direct already.... Shior

Comedy government.
.

Good

Lavor234:
Nigeria needs more consequential thinkers in the realm of policy implementation.
The ones who can envision scenarios before they make decisions, not these emotional failures.
You "abducted" a mid level Binance officer because you wanted some names
What was the effect
How does this contribute to the reputational risk
How does it encourage investors
Now you have the charges dropped and the matter debated on the floor of the US parliament with all sorts of asperions thrown
which you are countering every market day.

That is why leadership should not be by brawn
But brain. A leader must be able to control those under him since he should be smarter and like a chess maestro think tactifully.
Strong arm tactics was for the seventies.
We need leaders who think

you Are correct

Na lobbyists they act on behalf of USA government regarding the Binance case.

When the America politicians are busy with their reelection campaign

You are saying the FBI Director came to Nigeria earlier to do meet and greet with us

The two lawmakers should have went to Russia to free the detainees there. Or if the man is very important to them let do swap. And Nigeria govt should insist they free all Nigerians In their prison. In case FG need mediator I'm available.

Lavor234:
Nigeria needs more consequential thinkers in the realm of policy implementation.
The ones who can envision scenarios before they make decisions, not these emotional failures.
You "abducted" a mid level Binance officer because you wanted some names
What was the effect
How does this contribute to the reputational risk
How does it encourage investors
Now you have the charges dropped and the matter debated on the floor of the US parliament with all sorts of asperions thrown
which you are countering every market day.

That is why leadership should not be by brawn
But brain. A leader must be able to control those under him since he should be smarter and like a chess maestro think tactifully.
Strong arm tactics was for the seventies.
We need leaders who think

God bless u for the bold
After this they will keep blaming yahooo boys for denting the nation image, when they the leaders are the ones damaging the image of the country in the international community. Image the disrepute these kind of reports by US lawmakers are already doing to our battered image as a nation.

Lol

Ok nah

Justice shouldn't take this long on this matter..
My thoughts tho

Has the official exchange rate now gone down to less than 1200? Is the p2p the cos of naira volatility despite the arrest of this man?


Clutching on dry straws

Difrent:


Not Binance but the manipulators on Binance.
What value does the naira have that it will be the second most traded currency after the US Dollar on most crypto exchanges, nothing drives that except Speculation and it will be foolish to allow the greed of a few citizens affect the rest of us , so the government is doing very well with this case.
Those US lawmakers were lobbied by Binance , which is perfectly legal , but where their advocacy fall flat is Binance is facing similar charges in US and it's CEO was just sentenced after agreeing to pay a heavy fine..... If US can do that nothing will stop us, not even US Congress

Since Binance P2P was banned, over 3 months now, has Naira regained its value?


You guys are chasing wind.


Binance is not the cause of Nigeria's currency devaluation.


First, Abokifx .com was blamed, that one stopped updating rates since last year and the problem persisted.


Its unfortunate that some Nigerians have allowed these corrupt charlatans in APC government to be deceiving them that it is Binance and currency speculators that made Naira value to fall.


The number one reason Naira value fell is the floating of Naira by Bola Tinubu; our economy is so dependent on import and FX to float the dollar without watering the ground first.


The next reason for Naira free fall is pressure on dollar in Nigeria due to excess dependence on importation, especially petrol importation.


Petrol importation alone gulps more than 60% of the dollars available to Nigeria, then other importation follows.


What a reasonable government with sensible and financial expert cabinet should have done is to study the system before taking the hasty actions Tinubu took on his inauguration just to show that he is an action President.


1.) Tinubu shouldn't have removed petrol subsidy without studying and understanding the implications and how to curtail them from crippling Nigeria's economy.


2.) Tinubu shouldn't have floated the Naira the same time he removed petrol subsidy.


What Tinubu should have done

1.) Legalise all those illegal refineries in Niger Delta instead of allowing overzealous Nigerian securities to burn them down. Legalise them and tell them to start paying tax and give them a window period to move into clean refining to avoid environmental issues


2.) Have an urgent meeting with all the 36 stage Governors and give them a mandate to establish a modular petrol refinery in their states, if it will be difficult for those in the North, you can mandate only those in the South while those in the North are mandated to organize solid mineral mining in their states in collaboration with Minister of Mining, this will further tackle insecurity in the form of Banditry in the North


3.) Have a meeting with Aliko Dangote and ask him to tell you the truth of when his refinery would start producing petrol and find a way to get him to sell to Nigerian market at a discounted rate in exchange for tax haven for a stipulated number of years


4.) Declare Presidential emergency on insecurity especially on Farmer herder clashes and set up a Presidential security taskforce to be headed by yourself, if possible, hire some foreign mercenaries to assist for a stipulated number of months to deal with the issue.


Stand on your ground and tell Fulani herdsmen that the era of rearing cattle via open grazing is over, criminalize it and find ways to assist them transform fully into ranching.



5) Hasten on State Police implementation to boost internal security at least. Because the federal policing system is no longer working and can no longer secure Nigeria internally. Whatever negative effects of State Police can never be compared to the positive effects.


State Policing will help Nigeria to enforce anti open grazing law and it will be very effective than federal Police.


6.) Set up a special taskforce on Agriculture and food production aimed at finding working solutions to help Nigerian farmers to return fully back to farming and also how to attract youth farmers into the system through mechanization, improved security and other incentives.


7.) Find way to get most Nigerian homes, especially those in the cities to move to solar energy system in their homes and offices through partnering with ministry of science, PHCN and other stakeholders to subsidize solar s and quality batteries and inverters, so that more Nigerian homes and offices will be powered by solar energy, which would reduce the pressure on our national grid and reduce petrol and diesel consumption in Nigeria.


Once you do these things, monitor their progress closely and believe me, there will be super result and dollar will crash and we wouldn't have been in the mess we are in as a country today chasing shadows in the name of fighting corruption that has never helped Nigeria since EFCC was set up.



Tinubu can still implement these ideas, I am open to give them more workable ideas to help revive Nigeria's dying economy

Difrent:


Not Binance but the manipulators on Binance.
What value does the naira have that it will be the second most traded currency after the US Dollar on most crypto exchanges, nothing drives that except Speculation and it will be foolish to allow the greed of a few citizens affect the rest of us , so the government is doing very well with this case.
Those US lawmakers were lobbied by Binance , which is perfectly legal , but where their advocacy fall flat is Binance is facing similar charges in US and it's CEO was just sentenced after agreeing to pay a heavy fine..... If US can do that nothing will stop us, not even US Congress

so how much is the dollar since you banned Binance, you banned crypto trading, you have blamed anything blameable?
Naira is nose-diving every day. You are here defending a criminal organisation called APC

[quote author=Lavor234 post=130598405]Nigeria needs more consequential thinkers in the realm of policy implementation.
The ones who can envision scenarios before they make decisions, not these emotional failures.
You "abducted" a mid level Binance officer because you wanted some names
What was the effect
How does this contribute to the reputational risk
How does it encourage investors
Now you have the charges dropped and the matter debated on the floor of the US parliament with all sorts of asperions thrown
which you are countering every market day.

That is why leadership should not be by brawn
But brain. A leader must be able to control those under him since he should be smarter and like a chess maestro think tactifully.
Strong arm tactics was for the seventies.
We need leaders who think
[/quote


Is binance the sort of investor that Nigeria is looking for? Is Binance not facing charges in the same US? Has their CEO not been convicted there? Has Binance not been banned in the UK and other countries.

Your argument is a false equivalence.

Alright

Nigerian government, always chasing clouts instead of focusing on the main deal.

How could they focus on the main deal when they know nothing?