President Biden and Tinubu discussed enhancing U.S.-Nigeria collaboration to address financial crime and promote security.
Joe Biden, the President of the United States, expressed his gratitude to Bola Tinubu, the President of Nigeria and the Nigerian Government for dismissing the criminal charges against Tigran Gambaryan, the Head of Financial Crimes Compliance at Binance.
In February, while on a business trip in Nigeria, Gambaryan, a citizen of the United States, faced detention. Then, authorities accused him of laundering funds totaling $35.4 million and evading taxes on that amount. Both Gambaryan and Binance have rejected these allegations.
President Biden Thanks Tinubu on Partnership, Binance Exec’s Release
President Joe Biden of the United States of America thanked President Bola Tinubu of Nigeria in a phone call on Tuesday for the recent release of Tigran Gambaryan, an American CEO who Binance had arrested.
The White House issued a press statement expressing President Biden’s gratitude for Tinubu’s leadership in liberating Gambaryan. Nigeria detained Gambaryan, the head of Binance’s financial crime compliance division, for eight months after his initial arrest. On behalf of Binance, the authorities accused him of engaging in crimes such as money laundering and tax evasion.
In addition, the Nigerian government stated that these activities were causing the naira to lose value. He was eventually released on humanitarian grounds after a number of months had passed, and both of the cases that had been brought against him have now been dropped.
However, this does not mean Binance has avoided consequences. Nigeria has brought distinct claims of tax evasion against the exchange .Furthermore, Yusuf Tuggar, the Nigerian minister of international affairs, confirmed Joe Biden’s call. 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
He stated that the duration of the phone call was approximately thirty minutes. Tigran Gambaryan previously served time in the extremely deadly Kuje Prison in Nigeria. His family has diagnosed him with a number of serious health conditions, including tonsillitis, pneumonia, and malaria.
Additionally, he experienced difficulties that were associated with a herniated disk, which has resulted in a lack of motion in several areas of his body. As his condition continues to deteriorate, a number of authorities from the United States have urged the government of the United States to take immediate action in his case.
Richard Teng, the CEO of Binance, expressed his relief and gratitude with regard to the release of Tigran Gambaryan following the event. On the day of his release, the United States Department of State announced the formation of a new bilateral liaison group with Nigeria.
At this point, the primary focus is on improving measures to combat illegal funding and to oversee bitcoin transactions.The White House reported that Presidents Biden and Tinubu discussed the importance of collaboration between the United States and Nigeria.
They concentrated their efforts primarily on tackling global concerns, enhancing security, and expanding prosperity in a variety of disciplines, specifically. In addition, Joe Biden acknowledged the many different options for working together on justice.
