FG Traces Fleeing Binance Executive to Kenya Amid Extradition Efforts

The Nigerian Federal Government has successfully traced Nadeem Anjarwalla, a Binance executive, to Kenya after he escaped from custody in Nigeria. Anjarwalla is wanted in connection with money laundering and other financial crimes.

The Economic and Financial Crimes Commission (EFCC), along with international and national law enforcement agencies, are in talks with Kenyan authorities to expedite Anjarwalla’s extradition. A source from the Nigerian Presidency confirmed Anjarwalla’s presence in Kenya and noted ongoing efforts to secure his return to Nigeria.

EFCC Chairman Ola Olukoyede stated that the commission is collaborating with INTERPOL, the FBI, and authorities from the United Kingdom and Kenya to apprehend Anjarwalla. The aim is to bring him back to face charges related to tax evasion, currency speculation, and money laundering, involving $35.4 million.

Anjarwalla’s extradition is part of a broader crackdown on suspected money launderers and terrorism financiers in Nigeria. Authorities accuse Anjarwalla and Binance of conducting unlicensed financial services, including negotiating foreign exchange rates on their platform and concealing the origin of unlawfully obtained funds.

Binance Holdings Limited and two senior executives, including Anjarwalla and Tigran Gambaryan, have been charged with multiple offenses, including violations of the Banks and Other Financial Institutions Act and the Money Laundering Act.

The Nigerian government is also investigating Binance for aiding and abetting tax evasion. Binance officials reportedly failed to pay value-added taxes and issue invoices to subscribers on their platform.

This case unfolds months after Binance agreed to pay $4.3 billion to settle money laundering charges with the U.S. Department of Justice. Founder and CEO Changpeng Zhao resigned and pleaded guilty in a U.S. court.

Efforts continue to ensure Anjarwalla’s return to Nigeria, where he will face trial alongside Gambaryan and Binance for their alleged financial misconduct.