Nadeem Anjarwalla, an executive at Binance, is being sought by Kenyan authorities to be extradited from the country after he managed to flee from detention in Nigeria.
A manhunt initiated in Nigeria resulted in the discovery of his location in Kenya, which is where he was eventually found.
Binance Executive Set to Be Extradited
Based on a recent news article, the Nigerian government is teaming up with Interpol and Kenyan officials to bring Anjarwalla back to Nigeria. The Binance executive is wanted in Nigeria for suspected manipulation of the Naira exchange rate and facilitating illegal financial transactions using Binance.
According to reports, Anjarwalla is said to have left Nigeria by flying with a Middle Eastern airline from Abuja. Despite having his U.K. passport confiscated by Nigerian officials, he allegedly used a Kenyan passport instead to board the plane. This incident has sparked concerns about how he obtained the Kenyan travel document without other necessary documents, prompting investigations into its acquisition.
Soldiers responsible for guarding Anjarwalla are currently undergoing intensive questioning from various authorities. Agencies including the police, military, DSS, and NIA are collaborating on this investigation.
Simultaneously, Tigran Gambaryan, another Binance executive, remains in Nigerian custody, preparing for more court proceedings. Gambaryan maintains his innocence and his wife has started a petition to have him returned to the United States. This appeal has garnered some support. To aid in Gambaryan’s release, Binance stated on April 3rd that he did not possess any authority within the company regarding decision-making matters.
Gambaryan’s lawyer explained that since both Gambaryan and Binance were accused in the same case, it was necessary for the legal process to serve Binance as the main defendant first, before Gambaryan could enter his plea according to Nigerian law.
Binance Halts Naira Transactions in Nigeria
Beginning on March 5, Binance stopped allowing all transactions in Naira. Consequently, Binance left the Nigerian market by eliminating all Naira trading pairs on its peer-to-peer platform.
After the Nigerian authorities made attempts to curb suspected money laundering cases, focusing on those believed to have used Binance for illegal activities.
Due to persistent dollar scarcity in Nigeria, cryptocurrency sites like Binance have gained prominence as venues for exchanging the Nigerian naira. However, as a result of this trend, Nigeria accused Binance of exacerbating their monetary issues.
The Economic and Financial Crimes Commission (EFCC) took over the probe and filed accusations against Binance Holdings Limited, Gambaryan, and Anjarwalla.
Olayemi Cardoso, the Central Bank governor in Nigeria, had earlier raised alarms about crypto exchanges in the nation allegedly handling illicit deals worth more than 21.6 billion dollars.)
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2024-04-15 21:38