General
Nigerian Lawmakers Asked $150m Bribe in Crypto—Binance Executive Gambaryan

By Dipo Olowookere
One of the Binance executives detained by the Nigerian government last year, Mr Tigran Gambaryan, has alleged that a few members of the House of Representatives demanded bribe to the tune of $150 million in cryptocurrency from the crypto exchange.
In a lengthen post on his page on X, formerly known as Twitter, on Friday, he confirmed reports of bribery against the Nigerian officials, who met with employees of Binance in 2024.
Recall that Mr Gambaryan regained freedom last year after several months in detention after he honoured an invitation from the federal government through the Office of the National Security Adviser (ONSA), headed by Mr Nuhu Ribadu.
Binance was accused of being used to manipulate the local currency, the Naira, and was forced to delist the currency from its platform, especially for peer-to-peer (P2P) trading.
Narrating what transpired when he engaged Nigerian officials, Mr Gambaryan alleged that Mr Ribadu, who once headed the Economic and Financial Crimes Commission (EFCC), also wanted money from Binance to pursue his future political career, probably the highest political office.
Below is his unedited narration;
The DSS was involved in the House of Representatives matter. We met with them at their office on Friday, January 5, 2024, as a prerequisite to our meeting with the House of Representatives. They alluded to the fact that we had to comply with whatever the House members instructed us to do.
At the House meeting, there were three members present. Two of them were Peter Akpanke and Philip Agbese, both working under the leadership of Ginger Obinna Onwusibe. There was a third House member, but I don’t recall his name. They set up fake cameras and media to make the meeting appear official, but the cameras weren’t even plugged in. As you may already know, this ended with them asking for a $150 million bribe, paid in cryptocurrency into their personal wallets. A Mickey Mouse operation at its best.
@NuhuRibadu invited us to the official meeting and worked through Sa’ad Abubakar. Another key figure in this situation was Hamma Adama Belloji. Ogunjobi was just a pawn; they used him too. This was a sold as a friendly meeting with the NSA, the head of the SEC, and the CBN governor and include the discussion of the bribe that was solicited by the house of representatives.
The $26 billion figure they kept pushing publicly as some mystery money escaping Nigeria is complete BS. This information was provided in response to their request and was simply cumulative trade data for Nigerians on the platform. This money didn’t leave Nigeria—it was just people buying and selling crypto. For example, if you trade $100 a hundred times, that’s $10,000 in trade volume, but in reality, you only used $100. Again, just another example of them lying to cover up their BS investigation.
They lied about Nadeem escaping during mosque prayers. In reality, he returned and escaped afterward. I don’t know exactly how he managed to flee. He emailed me in November, but we haven’t discussed the details of his escape. It’s possible he paid someone off, but I have no proof. If Belloji had simply checked his passport for a visa, he would have realized that Nadeem did not use that passport to travel to Nigeria.
They sent a letter to the U.S. Embassy and the British High Commission, falsely claiming that we were voluntarily participating in strategic talks. This was a blatant lie.
Nadeem did not escape lawful detention—we were being held illegally. Belloji even admitted that he would fabricate evidence to obtain a court order to detain us for 14 days. Once the court order expired, they were unable to get an extension from the judge. At that point, they continued holding us illegally and had no justification for doing so.
There was a lot of noise about using Interpol to capture Nadeem. As someone who has been involved in multiple extradition cases, I can confidently say this was a joke. Extradition is a lengthy legal process, and no rational judge in Kenya or wherever would ever approve extradition for someone who escaped illegal detention at the hands of rogue law enforcement—especially when that detention involved holding employees hostage to pressure their employer. All noise.
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. 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.
They also detained innocent EFCC detectives who weren’t even present when Nadeem “escaped.” If anyone should have been detained, it was Belloji, for multiple basic law enforcement failures, incompetence, and negligence- including:
.Failing to search our belongings
.Not checking passports for visas
.Neglecting to coordinate with immigration to issue travel restrictions or alerts
.Mismanaging the situation internationally, creating an unnecessary diplomatic crisis
We had a strong working relationship with Nigerian law enforcement, but their greed destroyed all cooperation between Nigeria and the entire industry.
They even threatened administrators at Nizamiya Hospital, instructing them not to admit me when I was extremely ill. Additionally, they pressured the hospital to withhold my medical records from my attorneys. This was later confirmed by the Turkish Ministry of Health when my friend met with their officials in Turkey.
Ribadu emphasized that he wanted billions in payouts to fund his future political ambition. However, when the corruption scandal came to light, he was trapped—because any settlement would now be perceived as a bribe. I guess he really wanted his boss’ job 🙂
Ribadu even hired a U.S. law firm to negotiate my release, but this failed due to their incompetence and greed. Looking at you Idayat Hassan.
Ribadu overstepped his authority and embarrassed Nigeria in front of U.S. National Security Advisor Jake Sullivan. Ribadu acting like an asshole angered the White House and led to diplomatic repercussions—the U.S. limited visas to the Nigerian delegation for UNGA, and Biden refused to meet with Tinubu until my situation was resolved.
In the end, Ribadu overestimated his influence. They thought they could secure a quick win, but instead, they created an international incident, exposing his incompetence on a global scale.
That’s it’s for me for now. I don’t want to dwell on this, but it’s important for Nigerians to get the facts. I met amazing people in Nigeria. It’s a shame that these muppets are in charge.
General
Tinubu Declares State of Emergency in Rivers, Suspends Fubara, Assembly

By Dipo Olowookere
President Bola Tinubu on Tuesday night suspended the Governor of Rivers State, Mr Siminalayi Fubara, and the Rivers State House of Assembly, effectively declaring a state of emergency on the state.
In a broadcast today, Mr Tinubu said he took this decision as a result of recent developments in the state.
Mr Fubara has been at loggerheads with his predecessor, Mr Nyesom Wike, who is currently the Minister of FCT, over the control of the state, particularly the state parliament.
The action of the President came barely 24 hours after a pipeline was blown in Rivers State, with two suspects arrested by the police.
He has appointed Mr Ibokette Ibas (Rtd) as Administrator to take charge of affairs of Rivers State.
Below is the full text of President Tinubu’s broadcast;
Fellow Nigerians, I feel greatly disturbed at the turn we have come to regarding the political crisis in Rivers State. Like many of you, I have watched with concern the development with the hope that the parties involved would allow good sense to prevail at the soonest, but all that hope burned out without any solution to the crisis.
With the crisis persisting, there is no way democratic governance, which we have all fought and worked for over the years, can thrive in a way that will redound to the benefit of the good people of the state.
The state has been at a standstill since the crisis started, with the good people of the state not being able to have access to the dividends of democracy.
Also, it is public knowledge that the Governor of Rivers State for unjustifiable reasons, demolished the House of Assembly of the state as far back as 13th December 2023 and has, up until now, fourteen (14) months after, not rebuilt same.
I have made personal interventions between the contending parties for a peaceful resolution of the crisis, but my efforts have been largely ignored by the parties to the crisis.
I am also aware that many well-meaning Nigerians, Leaders of thought and Patriotic groups have also intervened at various times with the best of intentions to resolve the matter, but all their efforts were also to no avail. Still, I thank them.
On February 28, 2025, the supreme court, in a judgment in respect of about eight consolidated appeals concerning the political crisis in Rivers State, based on several grave unconstitutional acts and disregard of rule of law that have been committed by the Governor of Rivers State as shown by the evidence before it pronounced in very clear terms: “a government cannot be said to exist without one of the three arms that make up the government of a state under the 1999 Constitution as amended. In this case the head of the executive arm of the government has chosen to collapse the legislature to enable him to govern without the legislature as a despot. As it is there is no government in Rivers State.”
The above pronouncement came after a catalogue of judicial findings of constitutional breaches against the Governor Siminalayi Fubara. Going Forward in their judgment, and having found and held that 27 members of the House who had allegedly defected “are still valid members of Rivers State House of Assembly and cannot be prevented from participating in the proceedings of that House by the 8th Respondent (that is, the Governor) in cohorts with four members.”
The Supreme Court then made some orders to restore the state to immediate constitutional democracy. These orders include the immediate passing of an Appropriation Bill by the Rivers State House of Assembly which up till now has not been facilitated. Some militants had threatened fire and brimstone against their perceived enemy of the governor who has up till now NOT disowned them.
Apart from that both the House and the governor have not been able to work together.
Both of them do not realise that they are in office to work together for the peace and good governance of the state.
The latest security reports made available to me show that between yesterday and today there have been disturbing incidents of vandalization of pipelines by some militant without the governor taking any action to curtail them. I have, of course given stern order to the security agencies to ensure safety of lives of the good people of Rivers State and the oil pipelines.
With all these and many more, no good and responsible President will standby and allow the grave situation to continue without taking remedial steps prescribed by the Constitution to address the situation in the state, which no doubt requires extraordinary measures to restore good governance, peace, order and security.
In the circumstance, having soberly reflected on and evaluated the political situation in Rivers State and the Governor and Deputy Governor of Rivers State having failed to make a request to me as President to issue this proclamation as required by section 305(5) of the 1999 Constitution as amended, it has become inevitably compelling for me to invoke the provision of section 305 of the Constitution of the Federal Republic of Nigeria, 1999 as amended, to declare a state of emergency in Rivers State with effect from today, 18th March, 2025 and I so do.
By this declaration, the Governor of Rivers State, Mr Siminalayi Fubara, his deputy, Mrs Ngozi Odu and all elected members of the House of Assembly of Rivers State are hereby suspended for an initial period of six months.
In the meantime, I hereby nominate Vice Admiral Ibokette Ibas (Rtd) as Administrator to take charge of the affairs of the state in the interest of the good people of Rivers State.
For the avoidance of doubt, this declaration does not affect the judicial arm of Rivers State, which shall continue to function in accordance with their constitutional mandate.
The Administrator will not make any new laws. He will, however, be free to formulate regulations as may be found necessary to do his job, but such regulations will need to be considered and approved by the Federal Executive Council and promulgated by the President for the state.
This declaration has been published in the Federal Gazette, a copy of which has been forwarded to the National Assembly in accordance with the Constitution.
It is my fervent hope that this inevitable intervention will help to restore peace and order in Rivers State by awakening all the contenders to the constitutional imperatives binding on all political players in Rivers State in particular and Nigeria as a whole.
Long live a united, peaceful, secure and democratic Rivers State in particular and the Federal Republic of Nigeria as a whole.
General
Shippers Lament High Berthing Charges in Nigeria, Seek Reduction

By Adedapo Adesanya
Shipping stakeholders under the aegis of the Shipping Agencies, Clearing and Forwarding Employers Association (SACFEA) have called on the federal government to urgently reduce taxes for shippers.
The group warned that exorbitant port charges are driving business away from Nigerian ports to neighbouring countries.
At a recent press conference in Lagos, SACFEA Chairman, Mrs Boma Alabi, highlighted that it now costs around $200,000 to berth an average cargo vessel in Nigeria, following a recent 15 per cent increase in marine service charges by the Nigerian Ports Authority (NPA).
She decried that this is in stark contrast to other countries, drawing examples that the same service costs just $15,000 at Ghana’s Tema Port, noting that Nigeria’s fees are 1,233 per cent higher in Ghana.
She added that this would force the hands of stakeholders to try cheaper alternative routes, cutting them out of the equation.
Mrs Alabi said that neighbouring ports, including those in Cotonou and Lome, offer significantly lower berthing charges, making Nigerian ports uncompetitive.
For example, she said berthing a vessel costs $26,000 in Lome (Togo), $27,000 in Cotonou (Benin Republic), $29,000 in Singapore, $21,000 in Shanghai, and $60,000 in Abidjan (Cote d’Ivoire).
The SACFEA chairman pointed out that smaller neighbouring countries have taken advantage of Nigeria’s high costs to attract cargoes originally destined for Nigerian ports.
She cited Terminal 3 at Ghana’s Tema Port, a dedicated container terminal with three berths capable of handling ships up to 366 meters in length and 16 meters draught – which processes 1.9 million Twenty Equivalent Units (TEUs) annually compared to Nigeria’s 1.2 million TEUs.
Mrs Alabi expressed concern that increased charges and indirect taxes are making Nigeria’s business environment hostile to investment.
She warned that no new factories or manufacturing companies are emerging while the unemployment rate continues to climb.
“We were not informed about the charges before the government implemented them,” Mrs Alabi said, adding that “The government should make ports competitive and attractive through reduced charges. Lower charges will increase cargo throughput, generating more revenue and creating jobs for the youth.”
She also listed multiple charges from government agencies, decaying quay aprons, congested port access roads, poor road conditions, and illegal tolls as factors contributing to the high cost of doing business at Nigerian seaports.
General
Peter Obi Joins TikTok

By Modupe Gbadeyanka
The presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has finally joined TikTok, in a bid to further engage the youth.
The former Governor of Anambra State announced on Tuesday that he has opened a page on the popular social media platform, which is very popular among the young at heart.
He called on young Nigerians to join him on TikTok to build a new Nigeria they would be proud of.
“This is my official and only TikTok page. Kindly join me in building a new Nigeria that is POssible,” he announced via his official X (formerly known as Twitter) page.
His decision to join the platform is already causing a buzz on the internet, with several persons commending him for going closer to the youth.
Business Post reports that as of 4:10 pm, when this article was being filed, his TikTok page, Mr Peter Obi (@mr.peter.obi), already had 9368 followers and 4751 likes.
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