Head of Finance and Compliance at Binance in the United States, Tigran Gambaryan, said the Nigerian government used the cryptocurrency platform as a scapegoat for the repercussions of President Bola Tinubu’s Naira devaluation policy.
Gambaryan disclosed this in a lengthy statement on his official X account on Friday, titled ‘Some Unknown Facts’.
Reflecting on his experience under the Nigerian government’s custody in 2024, the Binance executive, Gambaryan, narrated how the firm, he and Nadeem Anjarwalla faced untold tribulations.
According to him, while Binance was accused by the Nigerian government of manipulating the price of the Naira in the foreign exchange market, the reality was that the Naira’s devaluation at that time was a direct result of Tinubu’s monetary policy, which led to the country’s currency depreciating against the US dollar.
He stressed that the floating of the Naira in June 2023 was the reason the Naira depreciated, not Binance.
“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”.