The U.S. President Joe Biden personally thanked Nigerian President Bola Tinubu on Tuesday for the release of Tigran Gambaryan, a senior executive of Binance, the world’s largest cryptocurrency exchange. Gambaryan had been detained in Nigeria for eight months following money laundering allegations.
The Minister of Foreign Affairs, Yusuf Tuggar, disclosed details of the 30-minute call between the two leaders during a press briefing at the State House. Tuggar emphasized the importance of the conversation, stating, “President Biden expressed his gratitude to President Tinubu for the collaboration between the two countries, especially in securing Gambaryan’s release.”
Gambaryan’s family confirmed that the executive departed Nigeria on Monday, ending months of legal troubles. “Today, American citizen Tigran Gambaryan left Nigeria to return home to his family after 8 months of unlawful detention,” the family’s statement read.
The Binance executive had been arrested in early 2024 amid a Nigerian government crackdown on cryptocurrency activities. The Economic and Financial Crimes Commission (EFCC) filed charges of money laundering against him, but both Binance and Gambaryan denied the accusations. Despite multiple bail applications, his detention at Kuje Prison dragged on, raising diplomatic tensions between the U.S. and Nigeria and drawing attention to his deteriorating health.
Following mounting diplomatic pressure from U.S. lawmakers and public advocacy, an Abuja Federal High Court dismissed the charges, paving the way for Gambaryan’s return to the U.S. for urgent medical care. Binance’s CEO, Richard Teng, expressed relief over the resolution and reiterated the company’s commitment to working with Nigerian regulators.
During the phone conversation, Biden acknowledged Nigeria’s importance on the global stage, emphasizing, “The future of the world resides in Africa.” He assured Tinubu of continued U.S. cooperation and pledged to secure permanent seats for two African countries—including Nigeria—on the United Nations Security Council.
Tuggar confirmed that Biden reiterated his commitment to Nigeria’s inclusion on the Council, saying, “There is no reason why one of those seats should not belong to Nigeria, given its stature in Africa and its significance.” Tinubu responded by highlighting Nigeria’s dedication to the rule of law and emphasized the shared values between both nations, citing Nigeria’s constitutional democracy modeled after the U.S. system.
The conversation ended with both leaders reaffirming their commitment to ongoing cooperation. Biden expressed confidence that the strong bilateral ties would continue even as his term draws to a close in January 2025.
