Binance Executive Allegedly Flees Nigeria

Nadeem Anjarwalla, Binance’s Director for West and East Africa, has reportedly left Nigeria illegally, according to local media.

Reports indicate that the executive escaped custody on March 22 after being taken to a nearby mosque for prayers.

Anjarwalla departed Abuja on a Middle Eastern airline. Immigration officials stated he left Nigeria using a Kenyan passport. Authorities are investigating how the Binance executive, a British citizen, obtained the travel document and boarded an international flight. It was previously reported that detainees’ passports had been confiscated.

A source informed the media that Anjarwalla and another detainee, Tigran Gambaryan, Vice President of Global Intelligence and Investigations at the exchange, were allowed to use mobile phones, which may have facilitated the escape plan.

Prior to the incident, Nigerian authorities charged Anjarwalla, Gambaryan, and Binance Holdings Limited with four counts of tax evasion.

The charges include:

• providing services without registration with the Federal Inland Revenue Service;
• offering taxable services without issuing invoices for VAT determination and payment;
• conducting cryptocurrency transactions without deducting VAT;
• aiding and abetting illegal tax evasion or neglecting tax payments.

The government’s lawsuit was filed in the Federal High Court in Abuja on March 25.

According to the latest court ruling, Anjarwalla and Gambaryan’s detention has been extended until April 4.

The prosecution claims that individuals used the exchange to launder nearly $21.6 billion.

As reported, Gambaryan and Anjarwalla have been detained by Nigerian authorities since February 25 as part of a security investigation into foreign exchange market regulation.

Previously, Binance was required to provide data on all Nigerian users and their transaction history. The platform was also mandated to settle any outstanding tax liabilities.

Binance potentially faces a $10 billion fine.