Top Binance executive detained in Nigeria disappears from custody

One of the two Binance executives detained in Nigeria, Nadeem Anjarwalla, has escaped from where the duo were held by the West African authorities.

This was confirmed in a report by Premium Times Nigeria.

The top officers of the cryptocurrency exchange firm were arrested and detained in the country for alleged tax evasion and other offences.

Premium Times reported that Mr Anjarwalla, 38, escaped on Friday, 22 March, from the Abuja guest house where he and his colleague were detained after guards on duty led him to a nearby mosque for prayers in the spirit of the ongoing Ramadan fast.

It added that the British-Kenyan citizen was flown out of Abuja using an unidentified Middle East airliner.

It is not clear how Mr Managed to escape the country on an international flight when his traveling document is currently held by the Nigerian law enforcement agencies.

Recall that Mr Anjarwalla, Binance’s Africa regional manager, and Tigran Gambaryan, a US citizen overseeing financial crime compliance at the crypto exchange platform, were arrested upon their arrival in Nigeria on 26 February 2024.

The Nigerian government charged the duo for tax evasion among several others.

The President Bola Ahmed Tinubu-led government had alleged that some individuals are using Binance for money laundering, terrorist financing, currency speculation and market manipulation, distorting the Nigerian economy and weakening the Naira against other currencies.

It added that over $21.6 billion was traded by Nigerians whose identities were protected by Binance.