The US and Nigeria form an alliance to combat crypto crime

The United States and Nigeria have launched the Bilateral Liaison Group on Illicit Finance and Cryptocurrencies to counter cybercrime and illicit financial activities related to digital assets such as cryptocurrencies.

This joint initiative, led by the U.S. Department of Justice and Nigerian authorities, aims to improve cross-border cybercrime investigation capabilities as digital financial activity increases worldwide.

The group's creation also coincides with the recent release of Tigran Gambaryan, the head of financial crime compliance at Binance, who has been imprisoned in Nigeria since February on charges of money laundering and currency manipulation.

The Bilateral Liaison Group is consistent 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 optimize coordination between the two countries' law enforcement agencies and strengthen Nigeria's ability to investigate and prosecute cybercrimes and crypto-related financial crimes.

Release of Tigran Gambaryan

The formation of this group comes at a significant time in the “crypto relationship” between the two countries. As previously mentioned, the group's announcement follows Nigeria's decision to dismiss charges against Gambaryan on health grounds. While it is still uncertain whether these two events are related, the new group could help defuse some of the strained relationships.

Gambaryan, who was detained for months at the Kuje Correctional Center in Abuja, was denied bail earlier this month despite his deteriorating health, including a herniated disc, malaria and pneumonia. Nigerian authorities eventually released him on the grounds that he needed medical treatment that was not available in the prison system.

Gambaryan's colleague Nadeem Anjarwalla, who was also arrested earlier this year, escaped to Kenya in March. Both initially took place following a visit to Nigeria that led to allegations of financial misconduct.

Binance had repeatedly advocated for Gambaryan's release, claiming he did not act as a decision-maker for the company during his visit and claiming that Nigerian officials had suggested a covert payment to resolve the matter, a claim Nigeria denies.