Business

Binance: Nigerian Govt talks tough over Gambaryan’s allegations against Ribadu, others

Published

2 months ago

February 15, 2025

Spread the love

The Federal Government of Nigeria has expressed concerns over what it described as outrageous allegations, misinformation, and defamatory statements being disseminated by Tigran Gambaryan, an American personnel of Binance.

Gambaryan was recently tried in Nigeria for financial crimes.

Recall that Gambaryan and his fellow, Anjarwalla were detained on February 26, 2024, by the Nigerian government.

While Anjarwalla escaped from custody, Gambaryan was kept in detention and was charged for money laundering by the Economic and Financial Crimes Commission, EFCC.

This came after the Governor of the Central Bank of Nigeria, Olayemi Cardoso, raised the alarm that $26 billion was funneled through Binance without a trace.

But, months after the legal tussle, the Nigerian government dropped charges against Gambaryan and Binance.

In October 2024, the court ordered the release of Gambaryan.

On Friday, Ekwutosblog reported that Gambaryan accused Nigeria’s National Security Adviser, Nuhu Ribadu, of seeking a bribe to fund his political ambition.

The Binance former executive also accused Reps member, Philip Agbese and two other Nigerian lawmakers of demanding a $150 million bribe, which should be paid into their cryptocurrency wallets.

However, Agbese, member representing Ado/ Okpokwu/ Ogbadibo Federal Constituency in Benue State, had challenged Mr Gambaryan to provide evidence of him demanding the bribe.

He went further to threaten legal action against Gambaryan if he failed to prove his allegations or apologize within seven days.

Similarly, in a statement signed by the Minister of Information and National, Mohammed Idris, the Nigerian government said it was obliged to set the records straight to stop his falsehoods from gaining grounds.

“The first visit by Mr. Gambaryan and his colleagues to Nigeria was discretionary on their part and Government was not officially involved,” the statement said.

“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.

“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 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.

“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.

“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.

“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.”

Up Next

AEDC confirms darkness in parts of Abuja, gives reason

Don't Miss

Energy expert urges Tinubu to end petrol import, prioritise local refining

Click to comment

Business

Dangote refinery, NNPC: More fuel stations increase pump price in Nigeria

Published

11 hours ago

April 4, 2025

Ekwutos Blog

Spread the love

The price of Premium Motor Spirit, popularly known as fuel, has recorded a significant increase in the past days, which may worsen the economic hardship Nigerians face.

MRS, a filling station partner of Dangote Refinery, kicked off the latest fuel price increase when it adjusted its petrol pump to between N925 and N950 per litre in Lagos and the Federal Capital Territory, Abuja.

Similarly, other fuel marketers such as Empire Energy, Recoil, Juda Oil, Total, Emedab, and others also increased their fuel pump to between N950 and N970 per litre.

On Wednesday, the Nigerian National Petroleum Company Limited retail outlets also jacked up their fuel price to N950 per litre from N880 in Abuja.

Summarily, Ekwutosblog observed motorists will have to pay N70 more to buy a litre of petrol in the coming days.

The development comes amid the suspension of petrol product sales in Naira by Dangote Refinery. This follows the initiation of the naira-for-crude sale deal between Dangote Refinery and the federal government through NNPCL.

On Wednesday, President Bola Ahmed Tinubu announced a reshuffling of NNPCL.

Meanwhile, local oil prices are increasing in Nigeria, despite the decline in global crude prices. As of the time of this report, United States West Texas Intermediate was at $62.15 per barrel, down from above $65, while Brent crude stood at $65.42 per barrel, down from $72 last week.

Business

Global Billionaires’ Net Worth Plummets by $65 Billion Amid Market Downturn

Published

1 day ago

April 4, 2025

Ekwutos Blog

Elon musk, Jeff Bezos, Larry Elison

Spread the love

In a significant setback, the world’s wealthiest individuals collectively lost over $65 billion in net worth today, as key market sectors experienced a sharp downturn.

This decline affected prominent figures in technology, finance, and other industries, sending shockwaves through financial markets.

Ekwutosblog reports that the downturn occurs amidst cautious optimism that new US policies may not be as severe as initially feared.

However, the immediate impact has already been felt, leading to a decline in the net worth of billionaires such as Elon Musk, Warren Buffett, and Jeff Bezos, amongst others who have significant stakes in tech, finance, and other industries.

The global billionaire population has been growing, with over 2,850 individuals representing almost $15 trillion in wealth.

Despite this growth, the market downturn serves as a reminder of the volatility and risks associated with wealth concentration.

Business

Sterling Bank Makes History: Scraps Transfer Fees for Local Online Transactions, Earns Praise from Lawmakers, Including Mohammed Bello El-Rufai, and the Public

Published

1 day ago

April 3, 2025

Ekwutos Blog

Spread the love

Sterling Bank has taken a groundbreaking step to ease the financial burden on Nigerians by eliminating transfer fees and other charges for local online transactions.

This move is a significant stride towards financial inclusion and customer-centric banking, particularly during a time when economic pressures are high.

Ekwutosblog gathered that this initiative has been commended by Mohammed Bello El-Rufai, Chairman of the House Committee on Banking Regulations, who praised Sterling Bank’s commitment to creating a more accessible and equitable banking system.

El-Rufai encouraged other financial institutions to follow Sterling Bank’s example, emphasizing that a competitive banking sector prioritizing Nigerians’ interests will strengthen the economy and rebuild public trust in financial services.

Sterling Bank’s decision to scrap transfer fees is expected to benefit individuals and small business owners who frequently make online transactions. The bank’s customers can now perform local transfers via the mobile app without incurring any charges. Obinna Ukachukwu, Growth Executive at Sterling Bank, stated that access to one’s own money shouldn’t come with a penalty, highlighting the bank’s values-driven approach to customer-centric banking.

This move has sparked widespread public approval, with many calling on other banks to adopt similar policies.

As policymakers, El-Rufai reiterated their commitment to fostering a regulatory environment that encourages pro-customer initiatives while ensuring sustainability within the banking sector.