Nigerian Government Locates Fleeing Binance Executive Nadeem Anjarwalla In Kenya

*EFCC, INTERPOL, And Kenyan Police Collaborate To Extradite Binance Executive

The Federal Government of Nigeria has successfully located fleeing Binance executive, Nadeem Anjarwalla, in Kenya following his escape from custody in Nigeria.

The Economic and Financial Crimes Commission (EFCC), the International Criminal Police (INTERPOL), the Nigeria Police Force, and the Kenyan Police Service are now working together to expedite Anjarwalla’s extradition to Nigeria.

Sources in the Presidency revealed that Anjarwalla went into hiding immediately after landing in Kenya, but his cover has been blown. “We have found him. We know where he is. He is in Kenya, and we’re working with the authorities to bring him back to Nigeria,” a source confirmed.

EFCC Chairman, Ola Olukoyede, stated in the agency’s March bulletin that the commission is collaborating with INTERPOL, the United States Federal Bureau of Investigation, and the governments of the United Kingdom, Northern Ireland, and Kenya to extradite Anjarwalla.

The Federal Government has charged Binance Holdings Limited, Anjarwalla, and another executive, Tigran Gambaryan, with money laundering allegations amounting to $35.4 million. While Gambaryan is currently in EFCC custody, Anjarwalla will be arraigned in absentia alongside the company and Gambaryan.

The soldiers detailed to monitor Anjarwalla are being questioned by special investigators from various security and intelligence agencies, including the military, Department of State Services, Police, EFCC, and the National Intelligence Agency.

Court documents reveal that the charges were filed on March 28, 2024, at the Federal High Court of Nigeria, Abuja division. The charges include carrying on specialized business without a valid license, engaging in the business of other financial institutions without a valid license, unlawfully negotiating foreign exchange rates, concealing the origin of proceeds from unlawful activities, and failing to pay relevant taxes.

The Nigerian government has been cracking down on suspected money launderers and terrorism financiers, alleging that some were using the Binance platform for criminal activities. Investigations revealed that unscrupulous elements were using Binance for money laundering, terrorist financing, currency speculation, and market manipulation, distorting the Nigerian economy and weakening the naira against other currencies.

The detention of Binance officials in Nigeria follows the crypto exchange platform’s guilty plea and agreement to pay $4.3 billion to settle criminal money laundering charges levied by the United States Department of Justice. Binance Founder and Chief Executive Officer, Changpeng Zhao, also known as CZ, pleaded guilty and agreed to resign, with his criminal trial postponed to April 30, 2024, by a United States court.

As the Nigerian government continues its efforts to extradite Anjarwalla and prosecute those involved in financial crimes, the case highlights the growing concern over the use of cryptocurrency platforms for illegal activities and the need for stronger regulations and oversight in the industry.