US and Nigeria form alliance to fight crypto crime

The United States and Nigeria established the Bilateral Liaison Group on Illicit Finance and Cryptocurrencies to counter cybercrime and illegal financial activities involving digital assets such as cryptocurrency.

This joint initiative, spearheaded by the U.S. Department of Justice and Nigerian authorities, aims to improve cross-border cybercrime investigation capacity as digital finance activities expand globally.

The group’s formation also coincides with the recent release of Binance’s financial crime compliance officer, Tigran Gambaryan, who has been detained in Nigeria since February over allegations of money laundering and currency manipulation.

The Bilateral Liaison Group is aligned with U.S. goals to advance secure cyberspace operations while addressing the challenges posed by digital asset transactions.

According to the US State Department, the collaboration aims to facilitate coordination between the two countries’ enforcement agencies and strengthen Nigeria’s ability to investigate and prosecute cybercrime and crypto-related financial crimes.

Tigran Gambaryan was released

The formation of this group coincides with an important period in the “crypto relationship” between the two countries. As previously reported, the group’s announcement follows Nigeria’s decision to dismiss the charges against Gambaryan due to his health issues. While it remains unclear whether these two events are linked, the new group could help ease some of the strained relations.

Gambaryan, who has been detained at Kuje Prison in Abuja for months, was denied bail earlier this month despite his deteriorating health conditions, which include a herniated disc, malaria and pneumonia. Nigerian authorities eventually released him, arguing that he needed medical treatment that was not available in the prison system.

Gambaryan’s colleague Nadeem Anjarwalla, who was detained earlier this year, also managed to escape to Kenya in March. Both were first organized following a visit to Nigeria that led to accusations of financial misconduct.

Binance has repeatedly defended Gambaryan’s release, claiming that he was not acting as a decision-maker for the company during his visit and that Nigerian officials offered a secret payment to resolve the issue, a claim Nigeria denies.