Crime

Nigerian Government Pursues Extradition of Binance Executive Nadeem Anjarwalla Found in Kenya

In the wake of Binance executive Nadeem Anjarwalla’s escape from detention in Nigeria, the legal consequences loom large, stirring questions about accountability and adherence to Nigerian law. Anjarwalla’s flight from custody amidst charges of financial crimes, tax evasion, and money laundering has triggered a nationwide manhunt and intensified efforts by Nigerian authorities, including the Economic and Financial Crimes Commission (EFCC), to secure his extradition from Kenya.

Published

2 weeks ago

April 14, 2024

Stella Charles Akupue

Nigerian Government Pursues Extradition of Binance Executive Nadeem Anjarwalla Found in Kenya

Amidst escalating efforts to secure the extradition of Binance executive Nadeem Anjarwalla, who fled custody in Nigeria, new developments emerge as he is located in Kenya. Sources within the presidency reveal ongoing collaboration between Nigerian and Kenyan authorities to expedite Anjarwalla’s return to face tax evasion, currency speculation, and money laundering charges.

In conjunction with INTERPOL and other international agencies, the Economic and Financial Crimes Commission (EFCC) has intensified efforts to apprehend Anjarwalla, Binance Holdings Limited, and Tigran Gambaryan, another executive.

The case, transferred from the Office of the National Security Adviser to the EFCC, underscores the government’s determination to hold Binance and its executives accountable for alleged financial misconduct.

EFCC and International Authorities Intensify Efforts as Nigeria Seeks to Bring Binance Executive Back for Trial Amidst Allegations of Tax Evasion and Money Laundering

Anjarwalla’s escape from custody on March 22 triggered a nationwide manhunt, amplifying scrutiny on Binance’s operations in Nigeria. The government’s crackdown on Binance, accused of manipulating the country’s foreign exchange market, has been a focal point of regulatory efforts to safeguard Nigeria’s financial integrity.

In a separate development, Binance executive Tigran Gambaryan faced trial following the EFCC’s arraignment of Binance and its executives on five-count charges. The trial, initiated on Thursday, April 4, 2024, signifies a pivotal moment in the government’s campaign against financial crimes perpetrated by multinational corporations operating within Nigeria’s borders.

The Central Bank of Nigeria’s revelation during the 293rd meeting of the Monetary Policy Committee about the substantial funds funnelled through Binance without trace underscores the urgency of addressing regulatory gaps and enforcing accountability measures within the financial sector.

As the extradition proceedings unfold and the trial of Binance executives progresses, Nigeria remains steadfast in its commitment to combatting and safeguarding the nation’s economic interests.

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