A key Binance executive detained in Nigeria on allegations of tax evasion and other charges, Nadeem Anjarwalla, has escaped custody.
Anjarwalla, who is 38 years of age, managed to flee on Friday, March 22, from a guest house in Abuja where he and a colleague were being held.
On that fateful day, the guards allowed him to visit a nearby mosque for Ramadan prayers.
Unknown to them that the dual British-Kenyan citizen had other plans in mind.
Anjarwalla is believed to have left Abuja aboard a Middle Eastern airline.
This has sparked numerous questions about his departure despite the Nigerian authorities holding his British passport.
Escape Plan
Efforts are underway to determine Anjarwalla’s destination and facilitate his return to custody.
An Immigration official revealed that Anjarwalla escaped using a Kenyan passport, sparking inquiries into how he acquired the document given that his British passport was in official custody.
This has led to speculation about the oversight and privileges granted to the detainees, including phone access.
Nigerians are certain that this may have facilitated the escape plan.
The National Security Adviser’s office, through Zakari Mijinyawa, Head of Strategic Communication, acknowledged the incident but did not provide further details.
Evidence Tampering
Anjarwalla is Binance’s Africa regional manager.
He and Tigran Gambaryan were initially detained upon their arrival in Nigeria on February 26, 2024.
What followed next was a series of legal actions against them and the cryptocurrency exchange.
Following Binance’s non-compliance with a court order demanding data on Nigerian traders, the duo’s detention was extended to prevent evidence tampering.
Charges against Binance and the executives include failure to register for taxes and issue invoices for VAT.
Also, aiding subscribers in evading taxes.
More Trouble For Binance
This incident comes amidst a broader crackdown by the Nigerian government on financial crimes, including money laundering and terrorism financing.
Unfortunately, Binance is accused of being used for such activities.
The government claims that over $21.6 billion was traded by anonymous Nigerian users on Binance.
Also Read: Tinubu Fines Binance $10bn For Illegal FX Transactions
According to the government, this contributed greatly to the economic destabilisation and Naira depreciation.
The saga adds to Binance’s legal woes, following a guilty plea to money laundering charges in the US and a significant settlement with the Department of Justice.
Binance CEO Changpeng Zhao’s trial in the US has also been delayed, casting a shadow over the cryptocurrency giant’s operations globally.
