Binance Executive Nadeem Anjarwalla Faces Extradition from Kenya

Binance Executive Set to Be Extradited

Following his escape from custody in Nigeria, Binance executive Nadeem Anjarwalla is now facing extradition from Kenya. Anjarwalla was spotted in Kenya after a manhunt was launched from Nigeria, leading authorities to his whereabouts.

According to a local report, the Nigerian government is working on extraditing Anjarwalla back to Nigeria in collaboration with Interpol and Kenyan authorities. He will face charges related to the alleged manipulation of the Naira and the facilitation of illicit funds transactions through Binance.

Anjarwalla managed to escape from Nigeria by boarding a Middle Eastern airline from Abuja, using a Kenyan passport despite his U.K. passport being held by Nigerian authorities. Investigations are ongoing regarding how he obtained the Kenyan passport without other travel documents.

Multiple agencies, including the police, the military, the Department of State Services, and the National Intelligence Agency, are involved in the ongoing interrogations of soldiers tasked with monitoring Anjarwalla.

Binance Halts Naira Transactions in Nigeria

On March 5, Binance suspended all naira transactions and removed all naira trading pairs from its peer-to-peer platform, effectively exiting the Nigerian market. This move came amidst efforts by the Nigerian government to crack down on suspected money laundering activities, particularly targeting individuals allegedly using Binance for illicit purposes.

The Economic and Financial Crimes Commission (EFCC) assumed control of the investigation and brought charges against Binance Holdings Limited, Nadeem Anjarwalla, and another Binance executive, Tigran Gambaryan, who is still in custody in Nigeria awaiting further legal proceedings.

Olayemi Cardoso, the Governor 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.