- While Tigran Gambaryan remained in custody, Nadeem Anjarwalla was at large since the Nigerian government leveled charges against Binance.
- The Nigerian government has finally caught onto the Binance executive.
- Nigeria is closely working with international authorities to bring Anjarwalla back to the country.
Tensions between Binance, the world’s largest crypto exchange, and the Nigerian government have rapidly escalated over the past month with two of the firm’s executives, Nadeem Anjarwalla, regional head for Africa, and Tigran Gambaryan, head of financial crime compliance, detained and charged alongside the exchange for tax evasion and money laundering.
While things continued to go from bad to worse for Gambaryan, who spent six weeks in Nigerian detention after humoring an invitation from authorities, Anjarwalla remained on the run until the Nigerian government finally caught on.
Nigerian Government Catches on to Binance’s Fleeing Executive
The Nigerian government’s manhunt for Nadeem Anjarwalla is nearing its conclusion. Local media outlets report that the Binance executive, who fled the country on March 22, has been traced to Kenya, according to a source from within the office of the Nigerian presidency.
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In a coordinated effort, the Nigerian government is working closely with Interpol and Kenyan authorities to secure Anjarwalla’s extradition back to Nigeria to face the charges leveled against him. These charges primarily stem from allegations of manipulating Nigeria’s fiat currency, the Naira, and facilitating the flow of illicit funds through Binance.
Anjarwalla reportedly managed to escape Nigeria by boarding a Middle Eastern airline from Abuja. While it is unclear how the Binance executive got on to the international flight with his United Kingdom passport remaining in the custody of Nigerian authorities, immigration officials claim he found a workaround.
Immigration reports suggest that Anjarwalla fled Nigeria using a Kenyan passport, prompting authorities to investigate how he obtained it without other travel documents.
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While Anjarwalla remained at large, his colleague Tigran Gambaryan, another Binance executive, remained in Nigerian custody, awaiting further legal proceedings.
Binance’s Gambaryan Bears the Brunt of Nigeria’s Aggression
Gambaryan has pleaded not guilty to the charges, and his wife and others are calling for his release after six weeks in detention. His wife has even launched a petition to bring him back to the United States, which had garnered several signatures at the time of writing. Additionally, in an appeal for Gambaryan’s acquittal on April 3, Binance asserted he held ‘no decision-making power in the company.’
At the time of writing Gambaryan’s case has been adjourned until April 19 at the Federal Inland Revenue Service (FIRS) request. The country’s tax authority claimed that they could not reach and serve the Binance executive, who has been in the custody of the Economic and Financial Crimes Commission (EFCC), the country’s anti-graft agency, since the end of February 2024.
On the Flipside
- In a March 15 letter to the President Biden administration, the U.S. Chamber of Digital Commerce slammed the detention as akin to a “state-sponsored kidnapping.”
- With Gambaryan and Anjarwalla now facing formal charges, the Binance executive must seek bail to leave EFCC custody as the case proceeds.
Why This Matters
Nadeem Anjarwalla’s escape could escalate and complicate the case against Binance, fueling suspicions and potentially further deteriorating the negotiations for their release.
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