Biden praises Tinubu for Tigran’s release and emphasizes the U.S.-Nigeria collaboration in preventing illegal activity and regulating cryptocurrency.
President Joe Biden of the United States has acknowledged that he has discussed a U.S.-Nigeria collaboration aimed at promoting prosperity with President Bola Tinubu of Nigeria.
Biden also praised President Tinubu’s leadership in winning the humanitarian release of American citizen and former U.S. law enforcement official Tigran Gambaryan last week in a White House statement released Tuesday.
Tigran Gambaryan, the CEO of Binance, was cleared of money laundering accusations brought by the Economic and Financial Crimes Commission (EFCC) by the Federal High Court in Abuja, according to a previous article by Nairametrics.
U.S.-Nigeria Collaboration and Digital Currency
President Joseph R. Biden, Jr. began by expressing sympathy to President Tinubu over the recent flooding that has impacted northeastern Nigeria in a statement from the U.S. government.
Additionally, he conveyed his “appreciation” for President Tinubu’s assistance in securing Gambaryan’s release.
Biden used the occasion to talk about how the United States and Nigeria should use emerging cryptocurrency technology to promote prosperity.
The two leaders also discussed the importance of the U.S.-Nigeria collaboration in tackling global issues and promoting security and prosperity in a variety of fields, the statement continued.
President Biden specifically thanked the two countries for their cooperation
On law enforcement, which includes the recently announced Bilateral Liaison Group on Illicit Finance and Cryptocurrencies, their shared interest in reforming international organizations to include African voices, and their cooperation on new and innovative technologies.
Biden gave Tinubu the assurance that the US would use bilateral ties to address global issues.
Things You Need to Know
The declaration coincides with the Nigerian government’s campaign against illicit cryptocurrency transactions in the country.
Although some Nigerian cryptocurrency companies have been charged, others have admitted to breaking Nigerian financial regulations and returned more than $160 million to government funds.
The Nigerian government accused Gambaryan and Binance of violating foreign exchange laws and money laundering through their cryptocurrency platform.
The EFCC confirmed that Gambaryan was released from the court last Wednesday on health reasons by Justice Emeka Nwite.
In addition to other health problems, Gambaryan’s condition had gotten so bad that he could barely walk without help, according to a report from the Nigerian Correctional Service that the Commission obtained through the Office of the National Security Adviser (NSA).
The federal government had decided to drop the charges against Gambaryan, according to the EFCC, which also furnished the court with important diplomatic and international discussions between the Nigerian and U.S. governments.The United States reiterated its commitment to a close alliance with Nigeria on October 23, 2024. The U.S. Department of Justice will keep working with the Nigerian government to improve its ability to investigate and prosecute cybercrime.
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