If it is proven that your friend has repented from riba and that he has a debt he owes and cannot pay, then you can get rid of the riba you have been given by giving it to him, otherwise do not give it to him.

Principles of Fiqh

Jurisprudence and Islamic Rulings

Transactions

Business and Financial Transactions

Interest

Sheikh Muhammed Salih Al-Munajjid

Contemporary Transactions

Ribaa (interest or usury) & Money Exchange

Counterbalancing
    one another’s interest in the bank

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Counterbalancing one another’s interest in the bank