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FG dismisses Binance Executive, Gambaryan’s $150m bribery allegation as ‘falsehood’

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The Federal Government has called on citizens to disregard falsehood peddled by Mr Tigran Gambaryan, an American personnel of Binance.

Minister of Information and National Orientation, Alhaji Mohammed Idris, in a statement on Friday said the government concern over the outrageous allegations, misinformation, and defamatory statements disseminated by Gambaryan who was recently tried in Nigeria for financial crimes.

 

He said that while the government is hesitant to engage Gambaryan, given the high-level diplomatic intervention that resolved his case, it was however obliged to set the records straight to stop his falsehoods from gaining grounds.

“The first visit by Gambaryan and his colleagues to Nigeria was discretional on their part, and the Government was not officially involved.

“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.

“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,” Idris said.

The minister further explained that Gambaryan was released by the Nigerian government in October 2024 on humanitarian grounds, and following a high-level diplomatic intervention that ended with tangible benefits for Nigeria.

He added that the government rejected Binance’s offer of a $5 million down payment in exchange for Gambaryan’s freedom, in favour of a more beneficial settlement with the American government.

“We categorically deny the retaliatory claims made by Gambaryan against Nigerian officials involved in his case, and we urge the public to disregard these false accusations in their entirety.

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“It is essential to note that 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 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 Gambaryan’s unfounded and malicious claims,” the minister said. (NAN)

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IMF urges Nigeria to focus on most vulnerable while stabilising economy

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The International Monetary Fund (IMF) has urged the Nigerian government to accompany its economic stabilisation policies with targeted social welfare transfers to support the most vulnerable populations.

IMF Director of Communications, Julie Kozack, made this known during a routine press conference at the IMF headquarters in Washington, DC, on Thursday.

Kozack acknowledged the challenges many Nigerians faced and stressed the importance of prioritising support for vulnerable households.

“The authorities’ policies to stabilise the economy and promote growth are welcomed.

“However, they must be accompanied by targeted social transfers to support the most vulnerable populations. We recognise the extremely difficult situation that many Nigerians face,” she said.

She said that completing the rollout of cash transfers to vulnerable households and improving domestic revenue mobilisation should be key priorities for Nigeria.

Kozack also announced that IMF staff would visit Nigeria next week to prepare for the 2025 Article IV Consultation.

News Agency of Nigeria (NAN), reports that under Article IV of the IMF’s Articles of Agreement, the IMF conducts annual bilateral discussions with member countries.

As part of this process, a staff team visits the country, gathers economic and financial data, and engages with officials on economic policies and developments.(NAN)

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Tinubu Distorting Democracy, Weaponising Judiciary, Others – Prof Udenta

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The founding National Secretary of the Alliance for Democracy, Prof Udenta Udenta, on Thursday, accused the Bola Tinubu Presidency of dismantling democratic values and weaponing the judiciary, and the 1999 Constitution (as amended) against Nigerians.

Prof Udenta, a distinguished fellow of the Abuja School of Social and Political Thought, said the suspension of Governor Siminalayi Fubara of Rivers State was a distortion of democratic institutions by the Tinubu government.

“The system that should protect democratic governance, you are weaponising them; the judiciary, the apparatus of the state, you are distorting, diluting and transmogrifying them in a way and manner that is shutting down democratic conversations.

“That is what you find as the legacy of the Bola Tinubu president and his political agents,” Prof Udenta said on Channels Television’s Sunrise Daily programme.

The scholar said dismantling democratic principles isn’t by shooting guns but by misusing democratic instruments like the constitution and the judiciary.

“When you abandon the foundational norms of democracy and then you begin to use instruments you acquired in power to dismantle the guardrails that govern the democratic system, then democracy dies.

“It is not by firing a shot that democracy dies or crumbles, it is leveraging the guardrails like the constitution, like what was done in Rivers State, to abort democratic rules,” he said.
The scholar also accused Rivers State Administrator, Vice Admiral Ibok-Ete Ibas (retd) of dismantling the levers of democracy with his suspension of all political appointees in the oil-rich state.

“You find the sole administrator strutting around Port Harcourt, dismantling democratic infrastructure,” he said.

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Prof Udenta described what is practised in Rivers State as a “hybrid regime which is a part of competitive authoritarianism” being deployed to “manacle the spirit of a nation and abort democratic institutions at all levels” including labour unions, media houses, political parties, and civil societies.

Prof Udenta regretted that the quality of the lives of Nigerians in the last two years has so depreciated. He lamented that there is widespread hunger and poverty in the land with escalating food inflation usurping the income of average Nigerians.

“There is poverty in the land, there is hunger everywhere, inflation is soaring, criminality and terrorism and all manners of insecurity pervade the nation, and the government is bemused like this current one,” he said.

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Bill To Create Prime Minister Office Passes Second Reading At Reps

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A bill for an Act to alter the provisions of the Constitution of the Federal Republic of Nigeria, 1999, to provide for the office of the Prime Minister as head of government and the office of President as head of state and to provide for a framework for the mode of election to the said offices, has passed second reading in the House of Representatives.

It is among 32 Constitution amendment bills that scaled second reading in the House of Representatives on Thursday.

Also among the bills is a bill for an Act to alter the provisions of the Constitution of the Federal Republic of Nigeria, 1999, to provide for specific seats for women in the national assembly and state houses of assembly.

Another is a bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999, to reduce the lengthy period for determination of pre-election petition matters and provide for the establishment of pre-election tribunals for pre-election matters and regulate the process of suspending a member of the national assembly from legislative duties.

A bill for an Act to alter the Constitution of the Federal Republic of Nigeria, 1999, to review the requirements that qualifies persons to be elected as president and vice-president of the Federal Republic of Nigeria, governors and deputy governor, passed second reading as well.

A bill for an act to alter the provisions of the Constitution of the Federal Republic of Nigeria, 1999, to review the status of the Federal Capital Territory as regards the election of the president of the Federal Republic of Nigeria and bills for the creation of Wan State and Gobir State also passed second reading.

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This brings the total number of Constitution Amendment Bills passed so far through second reading to 113.

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