Binance executive Nadeem Anjarwalla faces extradition from Kenya after escaping to Nigeria.
He was spotted after a manhunt was launched from Nigeria and authorities traveled to Kenya, where his whereabouts were discovered.
Binance executive should be extradited
According to a local report, the Nigerian government is working on Anjarwalla's extradition to Nigeria in collaboration with Interpol and Kenyan authorities. The Binance executive will face charges related to alleged manipulation of the Naira and facilitation of illicit fund transactions through Binance.
Anjarwalla reportedly escaped Nigeria by boarding a Middle Eastern airline from Abuja. Although his British passport was held by Nigerian authorities, he managed to board the flight using a Kenyan passport. This raised questions about how he obtained the passport without other travel documents, leading to investigations surrounding this acquisition.
Interrogations are ongoing involving soldiers tasked with monitoring Anjarwalla, and several agencies such as the police, military, Department of State Services and the National Intelligence Agency are involved in the process.
Meanwhile, Tigran Gambaryan, another Binance executive, remains in custody in Nigeria and awaits further legal action. Gambaryan pleaded not guilty and his wife started a petition to bring him back to the United States, which collected several signatures. To secure Gambaryan's release, Binance argued on April 3 that he held no decision-making power within the company.
Gambaryan's defense lawyer said that because Binance and Gambaryan were jointly charged, he could not enter a plea until the exchange, the main defendant, was served in accordance with Nigerian law.
Binance stops naira transactions in Nigeria
On March 5, Binance suspended all naira transactions, effectively exiting the Nigerian market. Additionally, the exchange removed all naira pairs from its peer-to-peer platform.
The move follows efforts by the Nigerian government to crack down on suspected money laundering activities, particularly targeting individuals allegedly using Binance for illicit purposes.
Cryptocurrency websites including Binance have become popular platforms for trading the Nigerian naira, amid a chronic shortage of dollars in the country. Therefore, Nigeria has pointed the finger at Binance for worsening its currency problems.
The Economic and Financial Crimes Commission (EFCC) took control of the investigation and filed charges against Binance Holdings Limited, Gambaryan and Anjarwalla.
Olayemi Cardoso, Governor of the Central Bank of Nigeria, had previously expressed concerns over crypto exchanges in the country facilitating illicit transactions amounting to over $21.6 billion.
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