Nadeem Anjarwalla’s Escape: Twist in Nigeria Binance Dispute Saga
An executive from the cryptocurrency company Binance has reportedly fled custody in Nigeria, according to authorities in the country.
Nadeem Anjarwalla, who holds British-Kenyan dual nationality, was detained along with his US colleague Tigran Gambaryan in February amid an investigation into alleged misconduct by Binance.
According to Nigerian officials, Anjarwalla left the country using a “smuggled passport.” However, a source close to his family claims that he departed through legal means.
Authorities in Nigeria are now collaborating with Interpol to obtain an international arrest warrant for Anjarwalla, as stated by the Office of the National Security Adviser (ONSA).
Binance has refrained from commenting on the allegations leveled against it.
“We were made aware that Nadeem is no longer in Nigerian custody. Our primary focus remains on the safety of our employees and we are working collaboratively with Nigerian authorities to quickly resolve this issue,” stated a spokesperson for Binance.
Anjarwalla, serving as Binance’s Africa regional manager, and Gambaryan, responsible for financial crime compliance, were apprehended on February 26 after attending meetings in Abuja, Nigeria’s capital, at the invitation of the government.
Reportedly, the authorities demanded that they disclose information about Nigerians trading on Binance’s platform.
Although a court initially granted a 14-day detention request by the Economic and Financial Crimes Commission (EFCC), the prolonged custody of the executives was deemed unlawful by a source close to their families.
Scheduled for another court appearance early next month, Anjarwalla’s escape from custody prompted an investigation by Nigerian authorities. It is reported that he sought permission to visit a mosque last Friday and did not return.
While Anjarwalla’s British passport was reportedly confiscated, the whereabouts of his Kenyan passport remain unknown.
Gambaryan remains in custody.
In a separate development, Nigerian authorities have filed tax evasion charges against Binance at the High Court in Abuja, listing Anjarwalla as one of the respondents.
The Federal Inland Revenue Service accuses the cryptocurrency platform of failing to pay value-added tax, company income tax, and not filing tax returns, in addition to aiding customers in tax evasion.
Last month, Nigerian authorities cracked down on cryptocurrency firms over allegations of money laundering and terrorism financing, accusing Binance of facilitating over $26 billion worth of untraceable transactions.
Binance, considered one of Nigeria’s most popular cryptocurrency platforms, faces these challenges amidst the country’s economic crisis, marked by currency depreciation and soaring living costs.
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