News
Binance Chief Insists Some FG Officials, Reps Demand $150m Bribe

Tigran Gambaryan, top official of Binance, at the weekend, maintained his stance on the bribery allegations against some Nigerian government officials and House of Representatives members.

Tigran Gambaryan
Gambaryan insisted Nigerian officials demanded bribes from him despite the denial of the Federal Government.
Recall that Gambaryan, who is Binance’s head of financial crime compliance, was detained in Nigeria from February to October 2024.
Nigerian government said his arrest was part of a broader investigation into alleged money laundering and economic destabilisation attributed to Binance’s activities in Nigeria.
On Friday, while recounting his initial experience on the issue on Twitter, Gambaryan accused some Nigerian lawmakers of demanding substantial bribes in cryptocurrency.
He specifically accused three lawmakers of soliciting a $150 million bribe from him, naming Philip Agbese, Ginger Onwusibe and Peter Akpanke as the three federal legislators who demanded the huge bribe from him to allegedly forestall his arrest and prosecution.
He further alleged that Nuhu Ribadu, National Security Adviser, sought significant payouts from Binance for his political ambition.
But in a swift response, Mohammed Idris, minister of Information and National Orientation, dismissed Gambaryan’s allegations as “outrageous” and “defamatory”.
Idris explained that the Nigerian government had rejected a $5 million offer from Binance intended to secure Gambaryan’s release, opting instead for a more favourable settlement with the US government.
He said Gambaryan’s claims lacked credibility and appeared to be an attempt to discredit Nigerian officials.
But Gambaryan in his latest post on the development on Saturday on his X, said the Federal Government used him as leverage to negotiate a beneficial settlement with the US government.
He wrote, “I was invited by the Nigerian FIU to a meeting in January. Last time I checked, they are part of the Nigerian government. House members also invited us to the meeting. Last time I checked, the legislative branch is also part of the Nigerian government.
“You said the second part was part of a probe? Lol. So when you invited us to a friendly meeting, you even lied about that. I was in a safe house for a month, watching TV, while you were trying to use me as leverage. You then panicked and knowingly charged me with blatantly false accusations.
“So I was released on humanitarian grounds? At least you’re finally admitting the need to release me. Last time you posted, you claimed my health was fine and that there was nothing wrong with me”.
The crypto expert further stated, “You investigated? Yet you didn’t take a statement from me? A person with direct knowledge. What a joke.
“You dragged my name through the mud for the past year with zero evidence against me, nearly killed me, and caused trauma to my family. And now you have the nerve to talk about defamation?
“I’ll put my credibility on the line anytime. In court? You mean like last time, when your attorneys didn’t even show up to the human rights suit in Abuja?
“Get your facts straight. I am done with this foolishness. I said my part. I’ll be off Twitter now since it’s pointless to argue with evil.”
While insisting that his claim was factual despite the denials, Gambaryan added, “What I shared was factual, based on my personal experiences and conversations with those who have direct knowledge of the events I discussed; information that was shared with both Nigerian and US law enforcement.
“So please, allow me to leave this behind and find peace”.
The Binance executive said it was the responsibility of law enforcement agents in both Nigeria and the US to see the investigation into the matter through.
He said he is no longer in law enforcement, adding that the responsibility of seeing this through to a logical conclusion now falls on those still serving in the United States and Nigeria.
He added, “Many requested that I stay on and provide further commentary on the issues I posted about yesterday (Friday). Here’s the hard truth: what I shared was meant to fill in the gaps left by Wired and NPR’s reporting.
“The reality is that last year was incredibly painful for me and my family. I dedicated my life to fighting crime as a Special Agent with the United States Department of the Treasury and as a compliance professional. It was an honour to serve my country and it was a blessing that they came to my rescue and mobilised the full force of the US Government when I was in need.
“Being dragged through court on “outrageous, baseless, and trumped-up charges”, he posited, “didn’t just hurt me but also brought immense pain to my family.
“I don’t want to see my kids cry because I’m not around. I don’t want to see videos of my 75-year-old mother on television in tears. I don’t want to see my wife crying on TV. I want to put this nightmare behind me and move on.”
News
Stakeholders Say AgriTech, Open Data, Critical to Nigeria’s Digital Economy

Stakeholders in the Information and Communication Technology (ICT) sector have identified agricultural technology (AgriTech) and open data platforms as essential tools for advancing Nigeria’s digital economy, particularly in promoting inclusion and improving rural development.
Speaking at the session titled “Design Workshops Building Productive Sectors: Investing in the Digital Economy” during the 31st Nigerian Economic Summit (NESG) in Abuja,
Toluwaleke Adenmosun, senior partner at Verraki, said agriculture offers an opportunity for digital transformation.
“Some groups proposed open data platforms to improve the sourcing of agricultural commodities, while others emphasized the use of AgriTech to simplify and formalize the agricultural value chain,” she said.
Adenmosun also raised concerns about the lack of transparency in tax and levy structures affecting businesses. She called for digital tools to streamline compliance.
“Industry players face challenges not only with formal taxes but also with various levies and charges. A simple platform that outlines required payments and confirms when they are made can be implemented quickly and would address this,” she said.
She added that successful implementation requires clear leadership, whether from the public or private sector.
“It’s not solely a government responsibility. Someone must take ownership, drive execution, and raise awareness among farmers and stakeholders,” she said.
Participants also noted the need for awareness campaigns, as many farmers remain unaware of digital tools that can boost productivity and improve market access.
Olabode Ojo, vice president of Global Independent Connect Limited (GICL), a subsidiary of IHS Towers Nigeria, reaffirmed the company’s commitment to expanding digital infrastructure in underserved areas.
“At GICL and IHS, our goal is to provide the infrastructure to support Nigeria’s digital economy,” said Ojo.
He noted that the company has deployed over 600 rural connectivity sites across 26 states and installed more than 16,000 kilometers of fiber optic cables, supporting mobile technologies such as 2G, 3G, and 4G.
“People in these areas now have access to education, healthcare, and digital financial services,” he said. “This supports broader development.”
Ojo also referenced government plans led by the Federal Ministry of Communications, Innovation and Digital Economy to deploy 90,000 kilometers of fiber optic infrastructure and establish 7,000 rural telephony sites.
“These plans are ambitious but achievable,” he said. “We are ready to collaborate with the government to help make them a reality.”
While agriculture is not GICL’s core focus, Ojo acknowledged its role in the digital economy and the importance of infrastructure in enabling farmers’ access to data.
“These goals are within reach with collaboration from all stakeholders,” he said. “We must stay focused and work together to achieve them.”
With continued investment from both public and private sectors, stakeholders agreed that AgriTech, open data, and rural connectivity are vital to building a more inclusive digital economy in Nigeria.
News
Yakubu Steps Down, Agbamuche-Mbu Takes Over INEC Leadership

May Agbamuche-Mbu, a National Commissioner at the Independent National Electoral Commission (INEC), has assumed office as the acting Chairman of the Commission following the formal handover by Professor Mahmood Yakubu, who is proceeding on terminal leave.
The transition was announced during a stakeholders’ meeting with Resident Electoral Commissioners held on Tuesday at the INEC headquarters in Abuja.
Speaking at the meeting, Yakubu explained that he was stepping down in accordance with Section 306, Subsections 1 and 2 of the 1999 Constitution (as amended), having served the Commission for nearly a decade.
“In recognition of the significant challenges ahead, and having had the honour of serving the Commission for the past 10 years, with only a few weeks remaining in my tenure, I have made a decision,” Yakubu said.
“In the interim, I am handing over to one of the most senior national commissioners by date of appointment. Following consultation with other national commissioners, May Agbamuche-Mbu will serve in an acting capacity pending the appointment of a substantive chairman of the Commission.”
He expressed hope that the transition would afford the appointing authorities adequate time to name a new chairman and allow the incoming leadership to settle quickly into the task of conducting elections and electoral activities in what he described as Africa’s most demographically and logistically complex environment.
Reflecting on his tenure, Yakubu noted that since 2015, he had worked with 24 national commissioners and 67 resident electoral commissioners, as well as thousands of staff across the country.
He expressed deep appreciation for their support and acknowledged the contributions of civil society groups, development partners, and Nigerians at large.
He also praised members of the National Youth Service Corps, calling them “among the most educated, most patriotic, and most knowledgeable election officials I have worked with.”
“Above all, I thank Nigerians for their comments as well as criticisms, which encouraged rather than discouraged us to persevere,” he added.
As part of his farewell, Yakubu presented two publications documenting the Commission’s work during his tenure: Election Management in Nigeria 2015–2025 and Innovations in Electoral Technology 2015–2025.
He concluded his remarks with a prayer for the continued progress of Nigeria’s democracy.
“It is now my pleasure to sign my official handing over notes and present the same to Agbamuche-Mbu. And from that point, I will take my exit,” he said.
Before stepping down, Yakubu outlined INEC’s preparations for several upcoming elections, including the Anambra State governorship election next month, the Area Council election in the Federal Capital Territory in February 2026, the Ekiti State governorship election in June 2026, and the Osun governorship election in August 2026.
He also confirmed that INEC had already begun preparations for the 2027 general elections, while awaiting the passage of a new Electoral Act currently before the National Assembly.
Yakubu highlighted the need to further clean up the voters’ register, review polling unit locations, and manage party primaries effectively.
He acknowledged the logistical challenges of election management in Nigeria, citing insecurity, natural disasters such as floods, and the need to update frameworks for internally displaced persons’ voting.
He also listed several innovations introduced under his leadership, including the consolidation of the biometric register of voters, the digitization of manual processes, technologies for locating election facilities, virtual training platforms, systems for managing political party finances, and the Election Monitoring and Support Centre.
“Indeed, we have made tremendous progress, but a lot more needs to be done,” he said.
Born in May 1962, Yakubu previously served as Executive Secretary of the Education Trust Fund before his appointment as INEC Chairman by former President Muhammadu Buhari on October 21, 2015.
He assumed office on November 9, 2015, succeeding Professor Attahiru Jega. In 2020, he was reappointed for a second five-year term, becoming the first INEC chairman in Nigeria’s democratic history to be reappointed and confirmed by the Senate.
News
PalmPay Honoured as Consumer-Friendly Business of the Year 2025 @ Lagos State Consumer Protection Agency Awards

PalmPay, Nigeria’s leading digital banking platform, has been recognised with the prestigious Consumer-Friendly Business of the Year 2025 Award at the Lagos State Consumer Protection Agency’s (LASCOPA) annual Consumer Service Week and Awards Ceremony, held on Tuesday, September 30, 2025, at Adeyemi Bero Hall, The Secretariat, Alausa, Ikeja, Lagos.
The event, organised by the Lagos State Consumer Protection Agency (LASCOPA), celebrated businesses and organisations that demonstrate exceptional commitment to consumer rights, service excellence, and customer satisfaction.
PalmPay’s recognition underscores its dedication to delivering secure, reliable, and inclusive financial services to millions of Nigerians. With a focus on transparency, innovation, and customer-centricity, PalmPay continues to empower consumers by offering secure transactions, fraud protection, convenient payment solutions, and exceptional customer support.
Commenting on the award, Opara Onyinyechi, Senior Regulatory Compliance Specialist, PalmPay, said: “We are deeply honoured to receive the Consumer-Friendly Business of the Year Award from LASCOPA.
This recognition reaffirms our commitment to putting our customers at the heart of everything we do. At PalmPay, we will continue to champion trust, accessibility, and innovation in financial services, ensuring that every user experiences safe and seamless banking.”
The Consumer Service Week and Awards are part of a global initiative that highlights the importance of consumer protection and celebrates organisations that prioritise consumer welfare. By honouring PalmPay, LASCOPA have reinforced PalmPay’s role as a trusted partner in Nigeria’s financial ecosystem.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users and processes up to 15 million transactions daily. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh.
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