Binance Executive Faces Extradition from Kenya: Allegations of Naira Manipulation and Illicit Funds Transactions
Binance Executive Nadeem Anjarwalla Faces Extradition from Kenya
Binance executive Nadeem Anjarwalla is currently facing extradition from Kenya after his escape from custody in Nigeria. Anjarwalla was spotted in Kenya after a manhunt was launched from Nigeria, leading authorities to his whereabouts.
According to local reports, the Nigerian government is working on extraditing Anjarwalla back to Nigeria in collaboration with Interpol and Kenyan authorities. He is set to face charges related to the alleged manipulation of the Naira and the facilitation of illicit funds transactions through Binance.
Anjarwalla reportedly escaped from Nigeria by boarding a Middle Eastern airline from Abuja, using a Kenyan passport despite his U.K. passport being held by Nigerian authorities. This has raised questions about how he obtained the passport without other travel documents, sparking investigations into the acquisition process.
Multiple agencies, including the police, the military, the Department of State Services, and the National Intelligence Agency, are currently involved in ongoing interrogations with soldiers tasked with monitoring Anjarwalla.
Meanwhile, another Binance executive, Tigran Gambaryan, remains in custody in Nigeria and is awaiting further legal proceedings. Gambaryan has pleaded not guilty, and his wife has initiated a petition to bring him back to the United States, garnering several signatures. Binance argued on April 3 that Gambaryan held no decision-making power in the company to secure his release.
In response to the crackdown on suspected money laundering activities, Binance suspended all naira transactions on March 5, effectively exiting the Nigerian market and removing all naira trading pairs from its peer-to-peer platform. The Nigerian government has been targeting individuals allegedly using Binance for illicit purposes, leading to the Economic and Financial Crimes Commission (EFCC) taking control of the investigation and bringing charges against Binance Holdings Limited, Gambaryan, and Anjarwalla.
Governor Olayemi Cardoso of the Central Bank of Nigeria had previously expressed concerns about crypto exchanges in the country facilitating illicit transactions amounting to over $21.6 billion. The situation continues to unfold as authorities work towards Anjarwalla’s extradition and further legal proceedings for those involved in the case.
