By Habeeb Ibrahim
The controversy surrounding Binance’s alleged dealings in Nigeria has escalated into a legal battle as House of Representatives member Philip Agbese has filed a ₦1 billion defamation lawsuit against Tigran Gambaryan, the Chief Compliance Officer of Binance.
The lawsuit, filed at the Federal Capital Territory High Court in Abuja, stems from Gambaryan’s social media post accusing Agbese and two other lawmakers of soliciting a $150 million bribe from the cryptocurrency exchange. The claim, which quickly went viral, has added fuel to the ongoing regulatory scrutiny of Binance in Nigeria.
Agbese, through his legal counsel Samuel Ihensekhien, argues that the allegations are false, malicious, and damaging to his reputation. The suit, marked FCT/HC/CV/576/2025, asserts that Agbese has never owned a cryptocurrency account nor engaged in digital currency transactions.
The lawmaker is seeking a court declaration affirming the defamatory nature of Gambaryan’s statements. He also demands an injunction restraining Gambaryan from making further defamatory statements, a public retraction of the allegations, a ₦1 billion compensation for damages to his reputation, a ₦5 million cost of the lawsuit, and a ruling that Gambaryan’s actions violated Agbese’s right to privacy, as guaranteed by Section 37 of the Nigerian Constitution.
This lawsuit comes amid Nigeria’s broader crackdown on Binance, with allegations that the exchange operated without proper licensing and facilitated transactions that undermined the country’s economy. The Nigerian government has intensified its efforts to regulate cryptocurrency transactions, citing concerns over money laundering, illicit financial flows, and tax evasion.
The court has ordered that Gambaryan be served notice of the lawsuit, giving him eight days to respond. If he fails to do so, the court may proceed with judgment in his absence.
Meanwhile, the legal and regulatory pressures on Binance continue to mount, with this case potentially shaping the future of cryptocurrency operations in Nigeria.
