The Federal Government has refuted allegations made by Tigran Gambaryan, a U.S. citizen and Binance executive recently tried in Nigeria for financial crimes labelling the his claims as “outrageous falsehoods.”

While urging the public to disregard them entirely in a statement by the Minister of Information and National Orientation, Mohammed Idris, Friday, the government expressed concern over what it described as a deliberate misinformation campaign by Gambaryan.

The statement was titled, “Disregard Falsehoods Being Peddled by Tigran Gambaryan against Nigerian Government Officials – FG.”

“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.

Despite what it termed high-level diplomatic intervention that secured Gambaryan’s release, the government stated that it was compelled to set the record straight to prevent falsehoods from gaining traction.

Addressing claims made by Gambaryan regarding an alleged bribery attempt, the government emphasised that his initial visit to Nigeria was entirely discretionary and not sanctioned by any government entity.

However, once the alleged incident was brought to the government’s attention, an investigation was promptly initiated.

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

Gambaryan’s second visit, the government explained, was tied to a broader investigation into the alleged criminal manipulation of the Nigerian currency through peer-to-peer platforms like Binance.

However, authorities claimed that their efforts were hindered by what they called obstructionist tactics.

“Mr. Gambaryan’s second visit to Nigeria was part of a wider probe into the criminal manipulation of the Nigerian currency through peer-to-peer platforms like Binance, but investigators were frustrated by the tactics deployed by Gambaryan and his team,” the statement added.

The statement also sought to clarify the circumstances surrounding Gambaryan’s release in October 2024, asserting that it was a goodwill gesture on humanitarian grounds following negotiations with the U.S. government.

“Mr. Gambaryan was released by the Nigerian government in October 2024 on humanitarian grounds and following a high-level diplomatic intervention that ended with tangible benefits for Nigeria.

“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,” it said.

The government dismissed Gambaryan’s latest accusations, asserting that they lacked both credibility and substance.

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

The government further suggested that Gambaryan’s motive was to “discredit and intimidate” those who ensured he was held accountable for his alleged financial misconduct.

“It is essential to note that Mr. Gambaryan’s allegations are not only unsubstantiated but also lack credibility, given his apparent motive to discredit and intimidate those who ensured he faced justice,” it stated.

Despite this, the Nigerian government expressed confidence in the legal systems of both Nigeria and the United States, emphasising that Gambaryan would have his day in court.

The statement further noted, “However, we are confident that both the Nigerian and American judicial systems will provide Mr. Gambaryan with a fair opportunity to substantiate his claims in court.

“Until then, we advise the public to exercise caution and not be swayed by Mr. Gambaryan’s unfounded and malicious claims.”

Gambaryan, who spent eight months in a Nigerian detention facility over alleged corruption, has identified three Nigerian lawmakers who allegedly demanded a bribe of $150m from him.

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

In addition to that, he also refuted claims made by the Central Bank of Nigeria regarding the alleged outflow of $26 billion from the country through the crypto exchange platform.