President Joe Biden Appreciate Nigerian Presence For Binance Exec Release

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As a researcher with years of experience in international relations and global finance, I find this development between the US and Nigeria to be a significant step towards fostering trust and cooperation between nations. The release of Tigran Gambaryan, a key executive at Binance, is a testament to diplomatic efforts that prioritize humanitarian concerns over political disputes.

President Joe Biden has shown gratitude towards President Bola Tinubu and the Government of Nigeria for withdrawing the dropped criminal accusations against Tigran Gambaryan, who serves as Head of Financial Crimes Compliance at Binance.

In February, U.S. citizen Gambaryan found himself under arrest during a business visit to Nigeria, later being charged with money laundering an alleged sum of $35.4 million and tax evasion on the same amount. These accusations have been refuted by both Gambaryan and Binance.

Joe Biden Thanks Tinubu on Partnership, Binance Exec’s Release

On Tuesday, President Joe Biden of the United States phoned President Bola Tinubu of Nigeria to thank him for the recent liberation of American Binance executive Tigran Gambaryan who had been in detention. The White House then issued a press release, stating that President Biden commended Tinubu for his leadership in securing Gambaryan’s freedom.

Gambaryan, who leads the financial crime compliance unit at Binance, spent eight months in custody following his initial arrest by Nigerian authorities. The allegations against him involved money laundering and tax evasion on behalf of Binance. Furthermore, the Nigerian government claimed that these activities were contributing to the depreciation of the national currency, the naira.

Approximately several months past, he was freed based on compassionate reasons, and both charges against him were subsequently dropped. However, this doesn’t imply that Binance has avoided consequences. On the contrary, the platform has been independently grappling with tax evasion accusations brought forth by Nigeria.

The Nigerian Foreign Affairs Minister, Yusuf Tuggar, verified that a conversation between Joe Biden and himself indeed took place, adding that it continued for approximately half an hour.

Tuggar said:

The two heads of state greeted each other cordially, and then President Biden expressed his gratitude to President Tinubu for their cooperation, specifically mentioning Nigeria’s partnership, particularly in the areas of joint law enforcement and the collaboration between our respective agencies. He also acknowledged the release of a suspect from the Binance cryptocurrency exchange company as part of this partnership.

Biden-Tinubu Discuss Crypto, Illicit Finance

Tigran Gambaryan is currently being held at Nigeria’s notoriously risky Kuje Prison. His family recently disclosed that he has experienced serious health issues, including malaria, pneumonia, and tonsillitis. Additionally, he has faced difficulties due to a herniated disk, resulting in limited mobility for him.

A large number of American authorities urged immediate action by the U.S. government due to Tigran Gambaryan’s worsening situation. Later, Binance CEO Richard Teng expressed gratitude and relief upon hearing about Tigran’s release.

On the day of his release, the U.S. State Department unveiled a new bi-lateral collaboration team with Nigeria. This team will primarily aim to strengthen initiatives related to monitoring cryptocurrencies and combating illegal financing.

According to reports, the White House stated that Presidents Biden and Tinubu had a discussion emphasizing the importance of the relationship between the U.S. and Nigeria. Their conversation primarily revolved around tackling global issues, enhancing security, and fostering growth in numerous sectors. Additionally, President Biden recognized the extensive collaboration on justice matters.

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2024-10-29 22:40