Nigerian House of Representatives member, Philip Agbese, has initiated a ₦1 billion defamation lawsuit against Tigran Gambaryan, the Chief Compliance Officer of global cryptocurrency exchange Binance.
The lawsuit, filed at the Federal Capital Territory (FCT) High Court in Abuja, centres on allegations that Agbese and two other lawmakers solicited a $150 million bribe.
The controversy began when Gambaryan, through social media posts, accused Agbese and fellow legislators of demanding a substantial bribe to facilitate favourable regulatory conditions for Binance’s operations in Nigeria.
These claims quickly gained traction online and were reported by various media outlets, intensifying public scrutiny.
Filed under case number FCT/HC/CV/576/2025, Agbese’s lawsuit asserts that Gambaryan’s statements are defamatory, malicious, and unfounded, aiming to tarnish his personal and professional reputation.
The lawmaker contends that he has never engaged in cryptocurrency transactions nor possesses any digital currency accounts.
Beyond seeking ₦1 billion in general damages, the suit demands ₦5 million to cover legal expenses, a public retraction of the allegations, and an injunction preventing Gambaryan from making further defamatory remarks.
In an official statement, Agbese emphasized the urgency of addressing the allegations to protect his integrity and that of Nigeria’s legislative body.
He highlighted that, despite issuing a seven-day ultimatum for Gambaryan to retract his statements and issue a public apology, no such actions were taken, prompting the legal recourse.
Agbese stated, “I was compelled to approach the court because my reputation as a citizen, a distinguished congressman, and that of my country is at stake.”
This lawsuit emerges amidst heightened regulatory scrutiny of cryptocurrency operations in Nigeria.
The Nigerian government has previously accused Binance of operating without proper licensing and facilitating transactions that could undermine the national economy.
Gambaryan himself faced legal challenges in the country, including detention by Nigerian authorities in February 2024 during investigations into Binance’s activities.
The FCT High Court has mandated that Gambaryan be formally notified of the lawsuit.
He is required to respond within eight days of receiving the notice; failure to do so may result in the court proceeding to judgment in his absence.
