Nadeem Anjarwalla, one of the two Binance executives held in Nigeria over allegations of tax evasion and other offenses, has reportedly escaped lawful custody, according to sources.
It’s been learned that Mr. Anjarwalla, aged 38, managed to escape on Friday, March 22, from the Abuja guest house where he and his colleague were being detained.
Allegedly, guards on duty escorted him to a nearby mosque for prayers in observance of the ongoing Ramadan fast, and he seized the opportunity to flee.
Despite his British passport being held by Nigerian authorities, Mr. Anjarwalla, who also holds Kenyan citizenship, is said to have left Abuja via a Middle Eastern airline. The circumstances surrounding his ability to board an international flight while in custody remain unclear.
Authorities are reportedly actively working to ascertain Nadeem Anjarwalla’s intended destination to facilitate his return to custody. An immigration official revealed that the Binance executive fled Nigeria using a Kenyan passport, sparking inquiries into how he obtained it, as he had no other travel document aside from his British passport when detained. Sources indicate that while held at a comfortable guest house, Anjarwalla had access to telephones, which he allegedly exploited to plan his escape.
The Office of the National Security Adviser’s Head of Strategic Communication, Zakari Mijinyawa, promised to investigate the escape but has yet to provide updates. Anjarwalla, Binance’s Africa regional manager, and Tigran Gambaryan, a US citizen overseeing financial crime compliance, were detained upon their February 26 arrival in Nigeria.
A criminal charge was filed against them, and the court granted the Economic and Financial Crimes Commission (EFCC) a 14-day remand order, extended due to Binance’s non-compliance with providing Nigerian user data. The court adjourned the case to April 4.
On March 22, the Nigerian government added a four-count charge against Binance Holdings Limited, Anjarwalla, and Gambaryan, accusing them of tax-related offenses. This includes failure to register with the Federal Inland Revenue Service and failure to deduct necessary Value Added Taxes from their platform’s operations. The government alleges that Binance facilitated over $21.6 billion in concealed trades by Nigerians, prompting its crackdown on suspected financial crimes.
Furthermore, the government alleged that investigations uncovered the exploitation of Binance for money laundering, terrorist financing, currency speculation, and market manipulation, exacerbating economic instability and devaluation of the Naira against other currencies.
The detention of Binance officials in Nigeria occurred several months after the crypto exchange platform admitted guilt and consented to pay $4.3 billion to resolve criminal money laundering accusations brought forth by the US Department of Justice.
Binance’s founder and CEO, Changpeng Zhao, also known as CZ, admitted guilt and committed to stepping down. However, his criminal trial in the United States has been postponed to April 30.
