US president thanks Tinubu over release of Binance executive

President of the United States of America, Mr. Joe Biden, on Tuesday evening, conveyed his gratitude to Nigeria and President Bola Tinubu for the release of Binance executive, Tigran Gambaryan.

Foreign Affairs Minister, Yusuf Tuggar, revealed this while briefing State House Correspondents on the 30-minute voice call between both leaders.

“I have been directed by Mr President to brief you with regards to his phone call with US President Joseph Biden at about 4 pm today.

“The two leaders exchanged pleasantries and President Biden proceeded to thank President Tinubu for his partnership and for Nigeria’s partnership, and in particular, for the collaboration between the two countries with regards to…the release of one of the suspects of the cryptocurrency exchange company that we’re all aware of,” Tuggar said.

Gambaryan left Nigeria on Monday after eight months of lawful detention, his family confirmed.

“Today, American citizen Tigran Gambaryan left Nigeria to return home to his family after 8 months of unlawful detention,” the statement from the family partly read.

Gambaryan, a senior Binance executive was detained in Nigeria in early 2024 during a crackdown on cryptocurrency activity by the Nigerian government.

The Economic and Financial Crimes Commission filed money laundering charges against him, which Binance and Gambaryan have denied.

However, his extended detention drew international attention, as his health reportedly deteriorated while held at Kuje Prison.

U.S. diplomats and lawmakers pushed for his release, emphasising both his declining health and the need for transparent proceedings.

Despite repeated bail applications, he remained in custody for nearly eight months, raising diplomatic tensions between the U.S. and Nigeria.

An Abuja Federal High Court had discharged Gambaryan from the money laundering charges.

This followed diplomatic and public advocacy, enabling him to return to the U.S. for urgent medical care.

Binance CEO Richard Teng expressed relief, highlighting Binance’s commitment to regulatory cooperation in Nigeria.

Responding to Biden, President Tinubu thanked him and the US for the partnership and collaboration in numerous sectors emphasizing greater collaboration with regards to security in West Africa.

Biden also affirmed that this partnership will continue as the “future of the world resides in Africa…which is why it is important for this partnership to continue.”

During the phone conversation, Biden also assured Tinubu that the US is keen on securing permanent status for two African countries, including Nigeria, on the United Nations Security Council.

Tuggar explained, “The two leaders also discussed the issue of the permanent seats in the United Nations Security Council.

“President Biden, once again, assured that the United States is committed to seeing Africa having two permanent seats.

“He also reiterated that he does not see any reason why one of those seats should not belong to Nigeria, given its position in Africa, its stature and its importance.

Tinubu also highlighted that Nigeria is committed to upholding the rule of law and follows established legal processes, which the U.S. recognises and respects.

He pointed out the shared values between the two nations, noting Nigeria’s adoption of a government system inspired by the U.S. model when it returned to constitutional democracy in 1999.

Both leaders agreed on the importance of legal frameworks and pledged ongoing collaboration in this area.

The conversation concluded with both sides expressing a commitment to maintaining communication even as President Biden’s term ends in January 2025.

The Punch