SUMMARY
- INTERPOL has finalized extradition paperwork for Nadeem Anjarwalla, a Binance executive accused of money laundering and tax evasion in Nigeria.
- Anjarwalla fled Nigeria and was last seen in Kenya.
- Tigran Gambaryan, another colleague facing similar charges, has pleaded not guilty and is currently in custody in Nigeria, awaiting a bail hearing.
- Following allegations of facilitating illicit transactions, Binance has withdrawn from the Nigerian market.
- As a result, Binance has ceased all transactions in Nigerian naira and removed naira trading pairs from its platform.
The Nigerian Central Bureau of Interpol has taken significant steps in the legal proceedings involving Nadeem Anjarwalla, an official of Binance Holdings embroiled in legal troubles. Anjarwalla’s departure from Nigeria followed accusations of money laundering and tax evasion, and he is currently believed to be residing in Kenya. Garba Umar, the head of the Nigerian NCB, revealed that efforts are underway to serve a Red Notice, a formal request for the location and provisional arrest of a wanted individual, aimed at bringing Anjarwalla back to Nigeria to face trial.
During an appearance on the local program “Sunrise Daily” on April 30, Umar provided insights into the ongoing efforts to locate Anjarwalla, noting that while his exact whereabouts are unknown, his last known location was in Kenya. The Interpol agency is actively coordinating with authorities in various countries that Anjarwalla may have traveled through, leveraging their networks to gather crucial information pertinent to the case. However, specific details regarding these investigative efforts remain confidential, as the authorities continue to pursue all available avenues to ensure Anjarwalla’s apprehension and extradition to Nigeria for legal proceedings.
Details of the incident and Binance’s departure from Nigeria.
Despite Nigerian authorities confiscating Anjarwalla’s travel documents, he managed to depart Nigeria on March 22, prompting scrutiny over the circumstances of his departure. Concurrently, Tigran Gambaryan, Anjarwalla’s associate, faced arrest on similar charges. Gambaryan has entered a plea of not guilty and is currently detained pending a bail hearing scheduled for May 17. His case has spurred a petition for his release, amassing over 4,000 signatures.
Following these events, Binance announced its decision to exit the Nigerian market, prompted by allegations from the governor of the Central Bank of Nigeria accusing Binance of involvement in illicit transactions. Consequently, Binance ceased all transactions involving the Nigerian naira and removed all naira trading pairs from its peer-to-peer trading platform in late February. This strategic move signifies a significant retreat from one of Africa’s largest cryptocurrency markets.
Legal actions and regulatory initiatives.
The accusations against Anjarwalla have sparked a collaborative global endeavor to apprehend and return him to Nigeria. This ongoing legal matter underscores the expanding role of Interpol in addressing cross-border financial offenses. It serves as a component of broader enforcement actions targeting compliance and regulatory adherence within the cryptocurrency realm.
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