Tigran Gambaryan, the Head of Financial Compliance at Binance, one of the world’s leading blockchain ecosystem and digital asset exchange has alleged that the Nigerian government tried to use the company to violate international privacy law.
Exposing some of his ordeal while he was arrested and detained by the Nigerian government, Gambaryan said the Federal Government demanded data on all citizens using the Binance platform for the sole purpose of targeting members of the opposition.
In a couple of posts made on X on Friday, February 14, 2025, Gambaryan described the government as a corrupt entity.
He said the government under the leadership of President Bola Tinubu tried to blame the weakness of naira on the company’s activities while it was clear that the challenges faced by the Nigerian currency was a result of policies announced and implemented by the government.
He said, “They tried to use us to violate international privacy laws by demanding user data on all Nigerians to target opposition members allegedly “manipulating the price of the naira.
“However, they all knew that the naira’s devaluation was a direct result of Tinubu’s monetary policy, which depegged the naira from the dollar,” Gambaryan posted.
While stating that he cannot condemn the policies of the President Tinubu’s administration, Gambaryan said it was wrong for the government to have used Binance as a scapegoat on the woes faced by the nation’s economy.
“I’m not saying this policy decision was wrong, but everyone understood that removing government intervention would lead to extreme devaluation. Instead of acknowledging this, they used Binance as a scapegoat,” he added.
