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Biden Appreciates Tinubu For Releasing Binance Executive, Gambaryan

Published

3 weeks ago

Oct 30, 2024.

U.S. President Joe Biden has commended President Bola Tinubu for releasing an executive of Binance Holdings, Tigran Gambaryan who was on trial in Nigeria for alleged money laundering and currency speculations.

The Minister of Foreign Affairs Yusuf Tuggar told journalists at the State House in Abuja on Tuesday that the two leaders also discussed areas of partnership and cooperation including the issue of security in Africa and in particular, West Africa.

Tuggar gave details of the thirty-minute phone call President Tinubu received from Biden.

“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 the release of one of the suspects of the cryptocurrency exchange company (Binance),” he said.

“President Biden offered his condolences on the recent flooding that has impacted northeastern Nigeria and underscored his appreciation for President Tinubu’s leadership in securing the release on humanitarian grounds of American citizen and former U.S. law enforcement official Tigran Gambaryan last week,” the White House said in a statement.

The minister insisted that due process was followed in the release of the Binance executive.

Last week, the Federal Government dropped charges against the Binance executive after months of trial for alleged money laundering.

The charges against Gambaryan – who has been in detention since April – were dropped on health grounds.

A counsel for the Economic and Financial Crimes Commission (EFCC) announced the withdrawal of the charges before Justice Emeka Nwite of the Federal High Court, Abuja.

The EFCC lawyer said Gambaryan, a US citizen, was just an employee of Binance whose activities he was being prosecuted for.

Mark Mordi, the counsel to Gambaryan, concurred with the prosecution. He said that his client was not involved in Binance’s broader financial moves.

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