By Gloria Ikibah

Chairman House of Representatives Committee on Financial Crimes, Rep. Ginger Obinna Onwusibe, has firmly denied bribery allegations made against him by Binance Senior Executive Officer, Tigran Gambaryan, describing the claims as false and an attempt to tarnish his image.

The dispute began when Gambaryan accused Onwusibe and his committee of demanding bribes during an investigation into Binance’s activities in Nigeria. The allegations, widely shared on social media and reported by international media like NPR and Wired, portrayed Binance executives as victims of harassment.

According to Rep. Onwusibe, he initially chose to remain silent, as the matter was already in court. However, he has decided to respond publicly due to the backlash and what he called an “unfair attack” on his person, his political party (Labour Party), and his Igbo ethnic group.

Onwusibe explained that his committee started investigating Binance after receiving a petition from the Empowerment for Unemployed Youth Initiative. The group accused Binance of financial crimes that threatened Nigeria’s economy. The committee invited Binance CEO, Richard Teng, for a public hearing on January 10, 2024.

Before the hearing, Binance requested a private meeting to understand the allegations. On January 8, 2024, three committee members and a clerk met with Binance’s legal team at the National Assembly. Onwusibe, who had other official engagements, did not attend. He stressed that the meeting was professional and no bribe was requested.

Despite promising to attend the public hearing, Binance’s CEO, Richard Teng, failed to show up several times, sending lawyers to represent him instead. The committee postponed the hearing multiple times, but no senior Binance official appeared, raising concerns about the company’s willingness to cooperate.

The conflict worsened when Binance’s CEO, Richard Teng, published a blog post on May 7, 2024, accusing Onwusibe of corruption. The post also revealed that Binance executives were under investigation by security agencies, including the DSS and the Office of the National Security Adviser (ONSA).

Onwusibe, calling the blog post defamatory, instructed his lawyer, Nnamdi U. Nwokocha Ahaaiwe, to demand an apology and compensation from Binance. Binance refused to comply. On September 18, 2024, Onwusibe filed a lawsuit against Binance and Teng at the High Court of the Federal Capital Territory, seeking an apology, a retraction, and $3 billion in damages. The case, which began on January 22, 2025, will resume on February 19, 2025.

Onwusibe dismissed Gambaryan’s latest bribery claims as a distraction from Binance’s legal troubles. He stated that his committee worked independently and never collaborated with agencies like the DSS, ONSA, SEC, CBN, EFCC, or NFIU in the legislative probe.

He also highlighted Binance’s global legal issues, such as the U.S. conviction of its founder, Changpeng Zhao, for money laundering, and regulatory fines in countries like Canada, India, and Uzbekistan.

Onwusibe expressed disappointment that many Nigerians believed Binance’s narrative without checking the facts. He said the false accusations had not only damaged his reputation but also targeted his political party and ethnic group.

Despite this, Onwusibe remains determined to clear his name. He vowed to pursue his lawsuit to the end and accused Binance of using media blackmail to avoid accountability. He also referenced reports that one Binance executive fled from Nigerian custody, further proving, in his view, that the company was acting in bad faith.

Onwusibe stressed that Binance should face its case in court and stop using false accusations to cover up its actions. He assured Nigerians that the committee acted lawfully and that justice would prevail.