UNGA: Binance Executive’s Claims Spark Fresh Debate

A recent claim by a former Binance executive, Tigran Gambaryan, has reignited a public debate over the strained diplomatic ties between Nigeria and the United States, particularly concerning a high-profile cryptocurrency case. Gambaryan, who was detained in Nigeria for several months, has alleged that former U.S. President Joe Biden refused to meet with President Bola Tinubu during last year’s United Nations General Assembly (UNGA) due to his detention. His claims, made on social media, also suggest that a planned meeting with current President Donald Trump would not take place, casting a shadow over President Tinubu’s ability to engage with top U.S. leadership.

Gambaryan’s assertions trace back to his and a colleague’s detention in Nigeria, where they were held on allegations that their firm, Binance, was involved in money laundering and manipulating the country’s economy. In a post on X, Gambaryan stated, “He was going to attend last year, but @JoeBiden refused the meeting because they were holding me hostage.” He also claimed that the U.S. Embassy in Nigeria had limited the number of visas for the Nigerian delegation and that the delegation was “embarrassed when the DOD refused to meet with them.” He added that President Tinubu’s decision not to attend this year’s UNGA was due to the fact that President Donald Trump “couldn’t care less about meeting” him, which would be “embarrassing” for the Nigerian leader.

These claims, however, are met with a complex diplomatic backdrop. While President Tinubu did not attend the UNGA last year, official reasons cited at the time did not mention a diplomatic snub. However, my searches reveal that shortly after Gambaryan’s release on humanitarian grounds in late October 2024, President Joe Biden placed a phone call to President Tinubu. The White House and Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, confirmed the call, with Biden expressing his appreciation for Tinubu’s “leadership in securing the release… of American citizen and former U.S. law enforcement official Tigran Gambaryan.” This phone call was widely seen as a significant diplomatic de-escalation after months of tension. The official narrative from both governments was that the call strengthened ties and focused on collaboration in areas like law enforcement and illicit finance, with no mention of a prior refusal to meet.

Gambaryan’s continued public commentary on the matter also provides a look into the broader conflict between the Nigerian government and Binance. The Nigerian government accused Binance of contributing to economic instability and citing a figure of $26 billion allegedly flowing out of the country through the platform. Gambaryan has refuted this figure, stating it was merely cumulative trade data and did not represent money leaving the country. He has also accused Nigerian lawmakers of demanding a $150 million bribe in cryptocurrency during a meeting he attended, a claim that has been vehemently denied by the government. The Minister of Information and National Orientation, Mohammed Idris, has dismissed Gambaryan’s claims as “falsehoods” and an attempt to discredit and intimidate Nigerian officials who ensured he faced justice.

The saga of Tigran Gambaryan’s detention and subsequent release has been a major test of diplomatic relations between Nigeria and the U.S. While Gambaryan and his supporters have painted his detention as a state-sponsored kidnapping, the Nigerian government has framed it as a legitimate investigation into financial crimes and a necessary step to protect the nation’s economy. The fact that the U.S. government intervened directly to secure his release, and that the charges were dropped “on humanitarian grounds,” points to the high-level diplomatic pressure involved. As Dependable NG has previously reported, the case was a significant source of friction, and while the phone call between the two presidents was seen as a resolution, Gambaryan’s ongoing claims ensure that the issue remains in the public consciousness. Whether or not President Tinubu meets with President Trump this year, the diplomatic fallout from the Binance case will continue to be a defining factor in Nigeria’s foreign relations.