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One of the executives from Binance detained in Nigeria on allegations of tax evasion and other offenses, NADEEM ANJARWALLA has reportedly escape from custody.
Anjarwalla, aged 38, allegedly fled from the Abuja guest house where he and his colleague were being held, purportedly taking advantage of a moment during Ramadan prayers when guards escorted him.
Clearview News Desk reports that despite his British passport remaining under the control of Nigerian authorities, he is believed to have exited the country using a Kenyan passport.
“The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention,” the statement reads.
The detention of Anjarwalla and his colleague, Tigran Gambaryan, unfolded after their arrival in Nigeria on February 26, 2024.
They were promptly subjected to criminal charges, including alleged tax-related offenses, leading to their remand by a local court.
Anjarwalla was said to have escaped after guards on duty led him to a nearby mosque for prayers in the spirit of the ongoing Ramadan fast.
He is believed to have flown out of Abuja using a Middle Eastern airline — but how he got on an international flight despite his British passport, was unknown.
ONSA said “upon receiving this report, this office took immediate steps, in conjunction with relevant security agencies, MDAs, as well as the international community, to apprehend the suspect”.
In a separate legal maneuver, the Nigerian government brought forth additional charges against Binance Holdings Limited and the two executives, accusing them of conducting operations without the requisite registration and tax compliance.
This development comes against the backdrop of Nigeria’s intensified efforts to combat financial crimes, including money laundering and terrorism financing.
Binance, a prominent cryptocurrency exchange platform, has found itself at the center of this crackdown.
The Nigerian government alleges that over $21.6 billion in transactions on Binance involved individuals whose identities were shielded, pointing to potential illicit activities such as money laundering, terrorist financing, and market manipulation.
These activities, according to Nigerian authorities, have had adverse effects on the nation’s economy, contributing to currency fluctuations and undermining the value of the Naira.
The detention of Binance executives in Nigeria follows closely on the heels of the platform’s settlement of criminal money laundering charges in the United States.
Binance’s founder and CEO, Changpeng Zhao, also known as CZ, entered a guilty plea and agreed to resign from his position.
Zhao’s criminal trial, which is linked to the charges brought by the US Department of Justice, has been postponed to April 30.
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