President Bola Tinubu’s government, on Friday, said it rejected a $5 million offer from Binance to secure the release of its official, Tigran Gambaryan, who had been in detention for eight months, dismissing as false the allegations that Nigerian lawmakers demanded bribes from Binance.  

Mohammed Idris, minister of information, issued a statement after Mr Gambaryan mentioned the names of three lawmakers who allegedly demanded bribes from Binance, also claiming that National Security Adviser Nuhu Ribadu “wanted billions in payouts to fund his future political ambition.”

“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,” Mr Idris said.  

He added, “We categorically deny the retaliatory claims made by Mr Gambaryan against Nigerian officials involved in his case, and we urge the public to disregard these false accusations in their entirety.”  

The minister said Mr Gambaryan’s allegations against Nigerian officials lacked credibility and were unsubstantiated, adding, “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.”  

On Friday, Mr Gambaryan, Binance’s head of financial crime compliance, said the State Security Service (SSS) was involved in Nigerian lawmakers’ demand for $150 million from the cryptocurrency company.

Mr. Gambaryan named Philip Agbese, the lawmaker representing Ado/Okpokwu/Ogbadibo Federal Constituency; Pete Akpanke, the lawmaker representing Bekwarra/Obudu/Obanliku Federal Constituency; and Ginger Obinna Onwusibe as the lawmakers who “set up fake cameras” to make the meeting appear official, only to demand that Binance pay bribes in cryptocurrency into their personal wallets.