By Milcah Tanimu
In a startling development, an executive of the cryptocurrency firm Binance has reportedly fled from custody in Nigeria, according to authorities. Nadeem Anjarwalla, a dual British-Kenyan national, was detained alongside his US colleague, Tigran Gambaryan, in February amid investigations into alleged misconduct by Binance.
Authorities in Nigeria claim that Mr. Anjarwalla left the country using a “smuggled passport,” though a family source asserts his departure was through lawful means. The Office of the National Security Adviser (ONSA) stated that efforts are underway, in collaboration with Interpol, to secure an international arrest warrant for Mr. Anjarwalla.
Binance, however, has refrained from commenting on the accusations leveled against it. A spokesperson for the firm highlighted their concern for employee safety and expressed willingness to cooperate with Nigerian authorities to resolve the matter swiftly.
Mr. Anjarwalla, serving as the company’s Africa regional manager, and Mr. Gambaryan, overseeing financial crime compliance, were apprehended following meetings in Nigeria’s capital, Abuja. Allegedly, Nigerian authorities demanded information regarding individuals trading on the Binance platform.
Although initially granted a 14-day detention by a court, sources close to the families claim their continued detention was unlawful. Nigerian media report Mr. Anjarwalla’s purported escape from custody last Friday, with uncertainties surrounding the whereabouts of his Kenyan passport.
Meanwhile, Nigerian authorities have filed tax evasion charges against Binance at the High Court in Abuja, naming Mr. Anjarwalla among the respondents. The Federal Inland Revenue Service accuses Binance of various tax-related offenses, including non-payment of value-added tax and company income tax.
This incident occurs amid a broader crackdown on cryptocurrency firms in Nigeria, prompted by concerns of money laundering and terrorism financing. The country’s central bank alleges significant transactions through Binance with untraceable sources, exacerbating economic challenges exacerbated by currency depreciation and inflation.
As investigations continue and legal proceedings unfold, the ramifications of this episode on Binance’s operations in Nigeria and the wider cryptocurrency landscape remain to be seen.