Kenyan authorities have detained Nadeem Anjarwalla, a regional manager for cryptocurrency exchange Binance, following his escape from Nigerian custody in March, where he faced charges of tax evasion and money laundering.
Anjarwalla, who holds both Kenyan and British citizenship, was initially arrested in Nigeria alongside another Binance executive, Tigran Gambaryan, in February. While Gambaryan remains in custody, Anjarwalla managed to flee from a secure facility in Abuja.
The exact circumstances of his escape are unclear, but Kenyan authorities located Anjarwalla in the country, acting on Nigeria’s request for his arrest and extradition.
However, the extradition process could be complex, requiring formal requests through official channels, potentially involving an arrest warrant from a Nigerian court and a red notice from Interpol.
The EFCC Chairman, Ola Olukoyede, confirmed that the commission was collaborating with international agencies and governments, including Kenya, to extradite Anjarwalla, highlighting the seriousness of the charges against him.
Kenyan courts would need to approve the extradition request, a process that could take considerable time due to potential legal challenges from Anjarwalla’s defense team.
Binance has yet to issue a comprehensive statement on Anjarwalla’s arrest, but questions arise about the company’s internal controls and awareness of the situation.
This case has broader implications for Nigeria’s regulation of cryptocurrency exchanges and highlights the vulnerability of such platforms to financial crimes.
Anjarwalla’s extradition, if successful, would be viewed as a victory for Nigerian authorities, but failure could strain relations between Nigeria and Kenya and raise further concerns about cryptocurrency exchange oversight.
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