Nigeria and Interpol collaborate to extradite Binance executive amid money laundering charges Nigeria and Interpol collaborate to extradite Binance executive amid money laundering charges
Binance has asked the Nigerian government to release its other executive, Tigran Gambaryan.
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Updated: Apr. 3, 2024 at 3:55 pm UTC
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The Nigerian Government has engaged the International Criminal Police Organization, Interpol, to facilitate the extradition of Binance executive Nadeem Anjarwalla, who is currently on the run, as reported by local media outlet Punch.
Meanwhile, Binance has urged the Nigerian authorities to release its other executive, Tigran Gambaryan, currently within their hold. The firm said:
“Binance respectfully requests that Tigran Gambaryan, who has no decision-making power in the company, is not held responsible while current discussions are ongoing between Binance and Nigerian government officials.”
Nigeria seeks Interpol assistance
According to reports, the Nigerian government has enlisted Interpol’s assistance in the extradition of Anjarwalla, a British-Kenyan citizen who recently evaded custody of the Nigerian authorities.
Anjarwalla and Gambaryan were detained in February following their firm’s issues with the authorities.
After spending over a month in custody, Anjarwalla managed to escape on March 22 during Friday prayers at a Mosque in Abuja, the capital city of Nigeria.
In response, the government initiated extradition proceedings with Interpol’s assistance. An unnamed government source reportedly said:
“Anjarwalla’s extradition process has begun. The Federal Government is working as did with INTERPOL to extradite the fugitive to Nigeria. He’s a fugitive that escaped from lawful custody, and his other partner is still in custody and would be arraigned on Thursday alongside their company, Binance.”
Money laundering charges
Meanwhile, Anjarwalla, Gambaryan, and Binance have found themselves embroiled in a money laundering case by Nigerian authorities.
The case, filed by Nigeria’s Economic and Financial Crimes Commission (EFCC), the country’s anti-corruption authority, alleged that the platform facilitated approximately $35.4 million laundering.
Accusations against Binance and its executives include engaging in illicit activities, money laundering, and operating without proper licensing between 2022 and 2024. Notably, Binance had been operating within the country’s borders before then.
Furthermore, the EFCC contends that the platform misused its virtual asset services to unlawfully manipulate foreign exchange rates in Nigeria, a violation subject to legal repercussions.
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