President Biden commends Nigeria's crypto crime partnership efforts

U.S. President Joe Biden has commended Nigeria’s proactive efforts in addressing cryptocurrency-related financial crimes and enhancing international cooperation. 

In a recent call, Biden expressed his condolences to Nigerian President Bola Tinubu for the recent floods impacting northeastern Nigeria. 

During their discussion, Biden also acknowledged Tinubu’s efforts in securing the humanitarian release of Tigran Gambaryan, a former Internal Revenue Service (IRS) agent and Binance compliance executive who was held since February on money laundering charges. 

Concerns about Gambaryan’s health condition, including pneumonia, intensified diplomatic negotiations, leading to his release on October 24. 

Biden lauded Nigeria’s role in strengthening law enforcement initiatives, particularly through the recently established Bilateral Liaison Group on Illicit Finance and Cryptocurrencies. 

According to the White House, this partnership, launched on October 23, aims to tackle financial crimes and cyber threats, focusing on the misuse of digital assets in illegal activities. 

The White House stated: “In particular, President Biden expressed appreciation for cooperation on law enforcement, including through the recently announced Bilateral Liaison Group on Illicit Finance and Cryptocurrencies, for collaboration on new and innovative technologies, and on shared interests in reforming international organizations to reflect African voices.” 

The new Bilateral Liaison Group aims to boost cooperation between the two nations’ law enforcement agencies in investigating and prosecuting digital financial crimes.