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Philip Agbese sues Binance executive for ₦1 billion over bribery allegations

Nigerian lawmaker Philip Agbese has filed a ₦1 billion defamation lawsuit against Binance executive Tigran Gambaryan over allegations that he and two other legislators sought a $150 million bribe.

The lawsuit, filed at the Federal Capital Territory (FCT) High Court in Abuja on Monday, February 17, under case number FCT/HC/CV/576/2025, accuses Gambaryan of falsely linking Agbese to corruption in social media posts.

The suit seeks financial damages, a public apology, and a court order restraining further defamatory statements.

According to Agbese’s legal counsel, Barrister S. Ihensekhien, Gambaryan’s claims were “false, malicious, and intended to damage the lawmaker’s reputation.”

The lawsuit states that Agbese has never owned a cryptocurrency account nor engaged in digital currency transactions.

The controversy began when Gambaryan, Binance’s Chief Compliance Officer, accused Agbese and two other lawmakers of demanding a $150 million bribe through cryptocurrency transactions.

His claims spread rapidly across Nigerian media, including reports from Channels Television and Blueprint.

In addition to ₦1 billion in general damages, Agbese is demanding ₦5 million to cover the cost of litigation.

The suit also calls for a public apology in at least three national newspapers and the removal of the social media posts containing the allegations.

FG reacts to Gambaryan's allegations

On February 14, 2025, the Minister of Information and National Orientation, Mohammed Idris, dismissed Gambaryan’s allegations, stating that no evidence had been provided to support them.

The government warned against misinformation, particularly from individuals facing legal scrutiny.

Gambaryan has been at the centre of Nigeria’s regulatory crackdown on Binance.

The cryptocurrency exchange has faced allegations of financial misconduct, and Gambaryan was detained by Nigerian authorities in February 2024 as part of an investigation into Binance’s operations.

Authorities have accused the platform of operating without proper licensing and facilitating transactions that undermine the national economy.

The court has directed that Gambaryan be served notice of the lawsuit through News Naija or via his legal representatives in Nigeria, Aluko & Oyebode.

He has eight days from the date of service to respond, failing which the court may proceed with judgment in his absence.

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