Tigran Gambaryan, Head of Financial Compliance at Binance, accuses the Nigerian government of attempting to misuse user data to target political opponents and deflect blame for the naira's devaluation.
Tigran Gambaryan, the Head of Financial Compliance at Binance , one of the world's leading blockchain ecosystems and digital asset exchanges, has alleged that the Nigeria n government attempted to leverage the company to violate international privacy laws.
Gambaryan recounted his experience during his arrest and detention by the Nigerian government, stating that the Federal Government demanded data on all citizens using the Binance platform with the stated objective of targeting members of the opposition. In a series of posts on X, formerly Twitter, on Friday, February 14, 2025, Gambaryan characterized the government as corrupt. He asserted that the administration led by President Bola Tinubu attempted to deflect blame for the weakness of the naira onto Binance's activities, despite the fact that the challenges faced by the Nigerian currency were a direct consequence of policies announced and implemented by the government itself. Gambaryan stated, '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,' he posted. While acknowledging that he refrained from condemning the policies of President Tinubu's administration, Gambaryan emphasized that it was fundamentally wrong for the government to utilize Binance as a scapegoat for the nation's economic woes. '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
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