Following the Federal Government’s crackdown on the cryptocurrency platform in an effort to fortify the naira, Binance Executive Nadeem Anjarwalla had fled from custody in Nigeria.
Anjarwalla, an Executive of the cryptocurrency platform Binance, who fled Nigeria a few weeks ago, is reportedly under arrest by Kenyan police.
According to government sources in Kenya, the Binance chief is now in the custody of the country’s police.
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A criminal charge was filed against the two executives Tigran Gambaryan and Nadeem Anjarwalla before a Magistrate Court in Abuja.
On 28 February 2024, the court granted the Economic and Financial Crimes Commission (EFCC) an order to remand the duo for 14 days. The court also ordered Binance to provide the Nigerian government with the data/information of Nigerians trading on its platform.
Following Binance’s refusal to comply with the order, the court extended the remand of the officials for an additional 14 days to prevent them from tampering with evidence.
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Also on 22 March, the Nigerian government approached the Federal High Court in Abuja and slammed another four-count charge on Binance Holdings Limited, Mr Anjarwalla, and Mr Gambaryan, accusing them of offering services to subscribers on their platform while failing to register with the Federal Inland Revenue Service to pay all relevant taxes administered by the Service and in so doing, committed an offence, contrary to and punishable under Section 8 of the Value Added Tax Act of 1993 (as Amended).
The defendants were also accused of offering taxable services to subscribers on their trading platform while failing to issue invoices to those subscribers to determine and pay their value-added taxes and, in so doing, committed an offence contrary to and punishable under S.29 of the Value Added Tax Act of 1993 (as amended).
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In March, the EFCC confirmed plans to extradite the Binance chief in the agency’s bulletin for the month.
Until his escape, Anjarwalla, who holds British and Kenyan citizenship and serves as Binance’s Africa Regional Manager, was facing trial in Nigerian courts.
The suspect escaped while under a 14-day remand order by a court. He was scheduled to appear before it again on April 4, 2024.
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Nigerian government has heightened its crackdown on Binance. Anjarwalla was one of the cryptocurrency chiefs arrested in the wake of the tussle.
