The Nigerian government has located Nadim Anjarwalla, a top Binance executive who escaped custody, in Kenya. This was reported by Punch.
In collaboration with Interpol and Kenyan police, discussions are underway regarding the extradition of the exchange employee back to Nigeria to face charges.
The Nigerian newspaper The Punch, citing government sources, reported that Anjarwalla has been detained in Kenya. His extradition to Nigeria is expected within a week with Interpol’s assistance.
Anjarwalla, who holds the position of director for Binance in West and East Africa, fled on March 22. He left the country on an international flight operated by a Middle Eastern airline, using a Kenyan passport.
His colleague, Tigran Gambaryan, was arrested last week in the Nigerian capital, Abuja. The case is scheduled for hearing on April 19. A petition for Gambaryan’s release has gathered over 3,400 signatures.
Lucky Uwakwe, chairman of the Nigerian Blockchain Industry Coordinating Committee, told Cointelegraph that local investors are concerned about the proceedings against Binance. Amid government hostility, they are withdrawing from deals and partnerships, particularly in the Web3 sector.
“By imposing fines on Binance, the government is essentially undermining the entire industry, sacrificing potential growth for short-term measures,” Uwakwe explained.
He is highly skeptical about the chances of the exchange’s executives being acquitted unless the company “meets certain conditions.”
“But even then, there is a high likelihood that the Nigerian government may ignore a court ruling [of acquittal],” the expert warned.
The Nigerian authorities accuse Binance Holdings Limited, Tigran Gambaryan, and Nadim Anjarwalla of tax evasion.
They insist that individuals used the exchange to launder nearly $21.6 billion.
Previously, Binance was required to provide data on all users from Nigeria and their transaction history. The platform was also mandated to settle any outstanding tax liabilities.
Potentially, Binance could face a fine amounting to $10 billion.