U.S. President Joe Biden has commended Nigeria for its proactive measures in addressing financial crimes linked to cryptocurrency, particularly following the recent release of a former executive from Binance.
**Biden and Tinubu Fortify U.S.-Nigeria Relations Through Crypto Crime Initiative**
On Tuesday, the White House revealed that President Biden engaged in a conversation with Nigerian President Bola Tinubu, discussing recent humanitarian and diplomatic advancements.
“President Biden conveyed his sympathies regarding the recent flooding that has affected northeastern Nigeria and expressed his gratitude for President Tinubu’s leadership in facilitating the humanitarian release of American citizen and former U.S. law enforcement officer Tigran Gambaryan last week,” the White House reported. Furthermore, the two leaders emphasized the importance of the U.S.-Nigeria partnership in tackling global challenges and fostering security and prosperity across various sectors.
Gambaryan, who formerly served as an agent for the Internal Revenue Service (IRS) and held a compliance role at Binance, had been in detention since February on charges of money laundering, which he firmly denied. His release on October 24 came after extensive diplomatic discussions, amid growing concerns over his declining health, with reports indicating he suffered from serious ailments, including pneumonia, while incarcerated in Kuje prison.
Biden acknowledged Nigeria’s contributions to collaborative law enforcement and technological initiatives, as well as its dedication to reforming international institutions. The White House noted:
In particular, President Biden expressed gratitude for the cooperation on law enforcement matters, including the recently established Bilateral Liaison Group on Illicit Finance and Cryptocurrencies, which aims to foster collaboration on innovative technologies and advocate for the inclusion of African perspectives in the reform of international organizations.
The Bilateral Liaison Group on Illicit Finance and Cryptocurrencies, inaugurated on October 23, is aimed at combating financial crimes and cyber threats, focusing specifically on the exploitation of cryptocurrencies for illegal activities. This initiative is set to enhance collaboration between U.S. and Nigerian law enforcement agencies, with the goal of improving their capabilities to investigate and prosecute digital financial crimes. The White House emphasized that this effort reflects both nations’ commitment to safeguarding digital environments and bolstering their defenses against cryptocurrency-related financial crimes.
