Binance Executive Escapes Custody in Nigeria Amid Money Laundering Investigation

In a shocking turn of events, Nadeem Anjarwalla, the regional manager for cryptocurrency exchange Binance in Africa, has managed to escape custody in Nigeria. Anjarwalla, who is currently under investigation for allegations of money laundering, fled the country using a smuggled passport, according to Nigeria’s National Security Adviser.

Nigeria, known as Africa’s largest crypto economy, has been grappling with surging inflation and a declining local currency, leading many citizens to turn to cryptocurrencies. However, the government has recently cracked down on Binance, accusing the platform of facilitating money laundering and even “terrorism” financing, although no evidence has been provided publicly to support these claims.

Anjarwalla, who holds both British and Kenyan citizenship, was initially detained along with his colleague, Tigran Gambaryan, a US citizen, on February 26 upon their arrival in Nigeria. Gambaryan remains in custody, awaiting further legal proceedings scheduled for April 4.

The circumstances surrounding Anjarwalla’s escape are still under investigation. According to the Abuja-based Premium Times newspaper, he managed to flee from a guest house in the capital city after being granted entry to a nearby mosque for prayers. The guards responsible for his custody have since been arrested, and a thorough investigation is underway to determine the factors that led to his escape.

Binance had already ceased trading with the Nigerian naira currency on its platform in early March, following the accusations of money laundering and tax evasion. The country’s tax agency has filed a four-count charge against the crypto exchange, alleging complicity in aiding customers to evade taxes through its platform.

CrimeDoor
Author: CrimeDoor

Leave a Reply

Share on:

[mailpoet_form id="1"]

Subscribe to Our Newsletter