Mr. Ginger Obinna Onwusibe, Chairman of the House of Representatives Committee on Financial Crimes, has firmly rejected allegations that bribes were solicited from Binance and its executives. He called the accusations false, malicious, and defamatory.
In a statement titled “Limited Reaction to False, Malicious, and Defamatory Publications Against Me by Tigran Gambaryan of Binance,” Onwusibe denied any coordination between his committee and key Nigerian agencies such as the Office of the National Security Adviser (ONSA), the Securities and Exchange Commission (SEC), the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC), or the Nigerian Financial Intelligence Unit (NFIU).
The lawmaker explained that the allegations were made by Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, who shared these claims on social media and with international outlets like NPR and WIRED. Onwusibe clarified that his committee’s investigation into Binance was triggered by a petition from a civil society organization alleging financial and economic crimes.
He outlined the events surrounding the investigation, noting that Binance had requested a pre-hearing meeting before the official public hearing. This meeting took place on January 8, 2024, in Onwusibe’s absence due to official duties. However, when the official hearing was scheduled for January 10, 2024, Binance CEO Richard Teng failed to attend, and subsequent rescheduled dates were also ignored.
In response to Binance’s continued non-compliance, Onwusibe filed a defamation lawsuit against the company and its CEO in September 2024, seeking $3 billion in damages. The case is currently before the High Court of the Federal Capital Territory in Abuja.
Onwusibe also referenced Binance’s history of legal issues, including fines and convictions in the U.S., Canada, India, and Uzbekistan for money laundering and unlicensed operations. He accused the company of resorting to blackmail and misinformation to avoid accountability in Nigeria.
He reiterated his commitment to clearing his name through legal channels and emphasized that neither he nor his committee ever demanded bribes during the investigation.
In his statement, Onwusibe noted, “I have been made aware of the publication by Mr. Tigran Gambaryan, Head of Financial Crime Compliance at Binance, on his X (formerly Twitter) handle today, Friday, February 14, 2025. I have received thousands of calls, messages, and visits from colleagues and others at the National Assembly.
“I initially refrained from responding because the matter is sub judice, being part of a pending court case I filed against Binance and Mr. Richard Teng.
“I categorically deny any coordination between our investigation and the ONSA, SEC, CBN, EFCC, or NFIU. No one from the ONSA, including NSA Mr. Nuhu Ribadu, instructed us to demand bribes from Binance, and no such bribes were ever requested.
“It is unfortunate that some Nigerians are too quick to believe the worst about their country and its institutions without critically assessing the allegations. I have been unjustly vilified, and my party and its presidential candidate have been ridiculed over issues they had no involvement in.
“On September 18, 2024, my legal team filed a lawsuit at the High Court of the FCT in Abuja, seeking an apology, retraction, and damages of $3 billion from Binance and Mr. Teng.
“The House of Representatives Committee on Financial Crimes initiated the public hearing after receiving petitions about Binance’s violations of Nigerian laws. Binance refused to attend the scheduled public hearing on January 10, 2024, and subsequent adjourned dates, despite being given ample opportunity to participate in a fair hearing.
“Now, Binance and its executives are using blackmail and false accusations to deflect from the real issues at hand.”
