President Joe Biden Appreciate Nigerian President For Binance Exec Release
Highlights
- President Joe Biden thanked Nigerian President Bola Tinubu for dropping criminal charges against Tigran Gambaryan.
- Gambaryan's health deteriorated during his time in Nigeria's Kuje Prison, prompting calls from U.S. lawmakers for urgent intervention.
- Biden and Tinubu discussed strengthening US-Nigeria partnerships, particularly in law enforcement and cryptocurrency oversight.
US President Joe Biden has expressed his appreciation to Nigerian President Bola Tinubu and the Government of Nigeria for dropping dismissed criminal charges against Tigran Gambaryan, Binance’s Head of Financial Crimes Compliance.
Gambaryan, a US citizen, was arrested in February while on a business trip in Nigeria and subsequently accused of laundering $35.4 million and evading taxes on that amount, charges he and Binance have denied.
On Tuesday, US President Joe Biden called Nigerian President Bola Tinubu to express his gratitude for the recent release of detained American Binance executive Tigran Gambaryan. The White House released a press statement stating that President Biden praised Tinubu for showing leadership in freeing Gambaryan.
Gambaryan, head of the financial crime compliance division at Binance, was held in custody by Nigeria for eight months after his initial arrest. Authorities accused him of laundering money and tax evasion on behalf of Binance. Nigerian governemnt added that these actions were devaluing the naira.
Several months later, he was released on humanitarian grounds, and both cases against him have since been dismissed. That does not mean, however, that Binance has gotten away scot-free. The exchange has been separately facing tax-evasion allegations levied by Nigeria.
Joe Biden’s call was confirmed also by Nigeria’s foreign affairs minister, Yusuf Tuggar, who said the phone call lasted for about 30 minutes.
Tuggar said:
“The two leaders exchanged pleasantries and President Biden preceded to thank President Tinubu for his partnership and for Nigeria’s partnership in particular the collaboration between the two countries with regards to our law enforcement and law enforcement agencies as well as release of one of the suspects of the cryptocurrency exchange company (Binance).”
Biden-Tinubu Discuss Crypto, Illicit Finance
Tigran Gambaryan has been in Nigeria’s notoriously dangerous Kuje Prison. His family revealed he has suffered severe health problems, including malaria, pneumonia, and tonsillitis. He also went through complications related to a herniated disk that has left him with partial loss of mobility.
Numerous US officials called on the US government to intervene in his case urgently in light of the deteriorating condition. Binance CEO Richard Teng afterwards stated that he was relieved and thankful for the release of Tigran Gambaryan.
On his release date, the US State Department announced a new bilateral liaison group with Nigeria. The focus is on advancing efforts on cryptocurrency oversight and fighting illicit finance.
The White House said Presidents Biden and Tinubu discussed how the partnership between the US and Nigeria was vital. They focused especially on addressing global challenges, improving security, and developing prosperity in many fields. Joe Biden also acknowledged the variety of cooperation on justice.
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