Nadeem Anjarwalla, a top executive at Binance, was found in Kenya by the Nigerian authorities after managing to evade arrest.
The government is now hoping to bring him back to Nigeria.
According to reports from Punchng.com, quoting sources close to the Nigerian presidency, the whereabouts of Anjarwalla in Kenya have been established.
Efforts are underway to coordinate with Kenyan authorities to return him to Nigeria.
FG traces fleeing Binance executive to Kenya
— Punch Newspapers (@MobilePunch) April 13, 2024
Anjarwalla is believed to have reached Kenya and hid to evade the authorities.
It is claimed that he stands accused of involving in illegal financial activities, including money laundering, tax avoidance totaling $35.4 million, and currency manipulation. These allegations have led to joint investigations by Nigerian authorities including the Economic and Financial Crimes Commission (EFCC), the Nigeria Police, the Kenyan Police, and Interpol.
Additionally, Punch reported on the EFCC’s current partnerships with foreign organizations such as the FBI and British law enforcement in the United Kingdom, Northern Ireland, and Kenya, to tackle the accusations.
Back in February, this case arose with the arrests of Anjarwalla and Binance’s executive, Tigran Gambaryan, in Nigeria. They were accused of interfering with the Nigerian naira exchange rate.
After that, the Economic and Financial Crimes Commission (EFCC) took charge of the investigation and filed accusations against Binance Holdings Limited, Gambaryan, and Anjarwalla.
As Gambaryan stays detained by the EFCC, Anjarwalla successfully fled on March 22. He departed Abuja via plane, employing his British passport for travel. Reportedly, he chose a Middle Eastern airline for his journey.
It’s uncertain how he was able to get on the plane, since Nigerian officials have his British passport – the one he used when entering Nigeria.
The investigation into Anjarwalla’s surveillance, as reported by Punch, uncovered continuous questioning of soldiers implicated in the operation and the active participation of organizations such as the military, DSS, Police, and NIA.
On March 5, Binance declared they would cease all Naira transactions and withdrew all Naira trading pairs from their peer-to-peer platform, signifying their departure from the market.
After a more vigorous crackdown by the Nigerian authorities on suspected money laundering, a choice was made in response to reports of individuals misusing Binance for illicit transactions.
Previously, Governor Olayemi Cardoso of the Central Bank of Nigeria voiced worries over cryptocurrency exchanges in Nigeria dealing with suspected illegal transactions valued at approximately $21.6 billion.
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2024-04-15 04:13