Nigeria’s authorities have identified Nadeem Arjarwalla, an executive of Binance, in Kenya after he allegedly eluded Nigerian custody. The government is now working on the process to bring him back to Nigeria.
Based on information from Nigerian news source Punch, insiders at the Nigerian presidency revealed that Arjarwalla hid after arriving in Kenya.
Nigeria’s administration is teaming up with Interpol and the Kenyan law enforcement to apprehend Arjarwalla and transport him back to Nigeria for answering accusations made against him.
In February, Arjarwalla traveled to Nigeria due to allegations that Binance had interfered with the value of the Nigerian currency, the naira. After discussing matters with Nigerian authorities, Arjarwalla and another Binance representative were taken into custody.
The Economic and Financial Crime Commission (EFCC) of the county is leading the investigation and has accused the exchange and its two executives of money laundering in five counts. However, Anjarwalla allegedly managed to evade custody on March 22 and subsequently left Nigeria, flying out of Abuja.
According to reports, Anjarwalla allegedly left Abuja on a Middle Eastern airline. Yet, it’s uncertain how he gained access to board an international flight given that his UK passport, which he used to enter Nigeria, is currently held by Nigerian authorities.
An immigration officer has revealed that the Binance executive left Nigeria using a Kenyan passport. Now, investigators are working to uncover how Anjarwalla obtained this document since he didn’t have any other travel papers during his detention.
During Arjarwalla’s absence, Binance executive Tigran Gambaryan entered a not guilty plea in court. His wife and supporters have rallied for his release after nearly a month in custody. Gambaryan’s spouse initiated a petition to bring him back to the US, which gathered over 3,000 signatures at the time of publication. However, the hearing for Gambaryan’s case has been postponed until April 19th.
Starting from March 5, Binance notified users that they would no longer be able to conduct any transactions using the Nigerian Naira. This decision signaled Binance’s departure from the Nigerian market. In addition, Binance’s peer-to-peer trading platform removed all Naira trading pairs around late February.
On February 27th, the governor of Nigeria’s Central Bank expressed concern over cryptocurrency exchanges in Nigeria, suggesting they may be involved in illicit activities. He additionally highlighted questionable transactions at Binance as a cause for suspicion.
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2024-04-15 04:13