Binance Executive Fleeing Nigeria Arrested in Kenya

Kenyan authorities have made a significant arrest, capturing Nadeem Anjarwalla, a Binance executive who had fled Nigeria amidst legal proceedings. Anjarwalla, one of two Binance executives detained in Nigeria over allegations of tax evasion and other offenses, managed to escape from an Abuja guest house on March 22nd. However, his flight was short-lived as he was apprehended by Kenyan law enforcement.

Government sources, speaking to Punch, have confirmed Anjarwalla’s arrest, stating that he is set to be extradited to Nigeria under the coordination of INTERPOL. This development comes as a collaboration between various agencies including the Economic and Financial Crimes Commission (EFCC), the International Criminal Police, the Nigeria Police Force, and the Kenyan Police Service to expedite the extradition process.

Anjarwalla and his colleague Tigran Gambaryan were facing legal action in Nigeria. A criminal charge had been filed against them in a Magistrate Court in Abuja, leading to their initial detention. Subsequently, on February 28, 2024, the court granted the EFCC an order to remand the duo for 14 days. Additionally, the court mandated Binance to furnish the Nigerian government with data on Nigerian users of its platform.

However, Binance’s non-compliance with this directive led to an extension of Anjarwalla and Gambaryan’s remand for another 14 days to prevent potential tampering with evidence. Meanwhile, on the same day Anjarwalla escaped, the Nigerian government initiated further legal action, filing a four-count charge against Binance Holdings Limited, Anjarwalla, and Gambaryan at the Federal High Court in Abuja.

The charges primarily revolved around accusations of offering services to subscribers on the platform without proper registration with the Federal Inland Revenue Service and failure to pay relevant taxes. These charges underscored the intensifying legal scrutiny faced by Binance and its executives in Nigeria.

The arrest of Anjarwalla in Kenya marks a significant development in this ongoing legal saga, further emphasizing the collaborative efforts between Nigerian and Kenyan authorities in pursuing justice. As extradition proceedings commence, the future implications for Binance and its executives remain uncertain amidst the legal intricacies of international law enforcement.

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