Kenya to extradite Binance executive involved in tax evasion and escape drama to Nigeria Kenya to extradite Binance executive involved in tax evasion and escape drama to Nigeria
Binance's legal battle in Nigeria has faced significant challenges, with the cout postponing proceedings twice.
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Updated: Apr. 22, 2024 at 11:15 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Kenyan authorities are gearing up to extradite Nadeem Anjarwalla, a Binance executive sought by the Nigerian government.
Over the weekend, a joint operation involving various agencies—such as the Economics and Financial Crimes Commission (EFCC), Nigeria Police Force, Kenya Police Service, Federal Bureau of Investigation (FBI), and International Criminal Police Organization (INTERPOL)—successfully captured him in Kenya after weeks of search.
Following his arrest, local media outlet Punch, citing an undisclosed government source, revealed that Anjarwalla is slated for extradition to Nigeria within the week. There, he faces trial on charges related to tax evasion.
Moreover, the Nigerian law enforcement agencies might pursue additional charges regarding his use of illegal passports and escape from custody.
Anjarwalla, Binance Africa’s regional manager, and another executive, Tigran Gambrayan, found themselves in legal trouble in Nigeria in February after the authorities detained them over their connections to the crypto exchange.
However, Anjarwalla managed to slip away from legal custody in March using a Kenyan passport and has been on the run since.
Updates on Binance situation in Nigeria
This development further exacerbates the ongoing conflict between Binance and the Nigerian authorities.
Gambrayan, a key Binance executive detained since February, is on trial for alleged tax evasion.
Notably, the tax evasion proceedings have faced challenges. A Nigerian court has adjourned the case twice because the exchange was not formally served with the charges. The judge is expected to rule on the matter by May 17.
Binance CEO Richard Teng has pledged cooperation with Nigerian authorities to resolve the issue. However, specific efforts to secure the release of the detained executives remain undisclosed.
Meanwhile, Gambrayan’s effort to secure his release has also faced setbacks. A federal high court at the nation’s capital, Abuja, postponed his bail application hearing, and he is currently being held at the Kuje correctional center.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Richard Teng, a veteran in the financial services and regulatory sectors, boasts over three decades of extensive experience.