Nadeem Anjarwalla, an executive of Cryptocurrency platform Binance, has reportedly been arrested by authorities in Kenya after fleeing Nigeria several weeks ago.
Anjarwalla’s escape from custody in Nigeria followed the Federal Government’s crackdown on the Cryptocurrency platform, aimed at bolstering the Naira.
While Nigerian authorities traced Anjarwalla to Kenya, multiple reports indicate that he is now in the custody of Kenyan police. Government sources in Kenya have confirmed the detention of the Binance chief by the country’s police authourity.
Grassroots Parrot gathered that efforts to extradite Anjarwalla have involved discussions between the Economic and Financial Crimes Commission (EFCC), the International Criminal Police, The Nigeria Police Force (NPF), and the Kenyan Police Service.
In March, the EFCC disclosed plans to extradite Anjarwalla, citing allegations of tax evasion, currency speculation, and money laundering totaling $35.4 million.
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Anjarwalla, who holds British and Kenyan citizenship and serves as Binance’s Africa Regional Manager, was facing trial in Nigerian courts before his escape. He fled while under a 14-day remand order and was scheduled to appear before the court again on April 4, 2024.
The Nigerian government’s crackdown on Binance has intensified in recent months, with the Central Bank of Nigeria (CBN) alleging that over $26 billion was channeled through the platform without proper documentation.
The CBN Governor Yemi Cardoso, stated “In the last year, more than $26 billion have been funneled through Binance without trace.”
Anjarwalla’s arrest underscores the ongoing regulatory scrutiny facing cryptocurrency platforms in Nigeria and across the globe, as extradition proceedings continue.
