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Tuesday, April 23, 2024

Nigeria pursues extradition of Binance chief who escaped detention

Federal Government Collaborates with INTERPOL to Apprehend Fugitive Linked to Money Laundering Charges

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The Nigerian government, in conjunction with the International Criminal Police Organisation (INTERPOL), has initiated extradition proceedings against Nadeem Anjarwalla, a chief executive of Binance who absconded from custody on March 22, 2024. Anjarwalla and Tigran Gambaryan, executives of Binance Holdings Limited, were apprehended by security agencies in February over allegations of money laundering, with Gambaryan currently in custody.

Sources within the government confirmed that efforts to extradite Anjarwalla are underway, as authorities seek to bring him back to Nigeria to face charges related to financial crimes. Despite his escape, the arraignment of Binance and Gambaryan in court remains scheduled for Thursday on a five-count money laundering charge.

Anjarwalla’s escape prompted an extensive investigation, with soldiers tasked with monitoring him now under scrutiny by special investigators from various security and intelligence agencies. The severity of Anjarwalla’s actions underscores the urgency of the government’s response, as it collaborates with international partners to secure his arrest and return to Nigeria.

Meanwhile, the Economic and Financial Crimes Commission (EFCC) is leading the prosecution of Binance Holdings Limited and its executives, having obtained a court warrant for Anjarwalla’s arrest and extradition. The EFCC has filed charges against Binance and its executives, alleging violations of financial regulations and money laundering offences.

The case against Binance and its executives stems from alleged unlawful activities, including engaging in financial transactions without valid licenses and concealing the origin of illicit proceeds. Court documents detail the charges brought against the defendants, reflecting the government’s commitment to combating financial crimes and ensuring accountability in the cryptocurrency sector.

Despite Anjarwalla’s escape, the Nigerian government remains steadfast in its pursuit of justice, leveraging international cooperation and legal mechanisms to hold accountable those implicated in financial wrongdoing. As authorities continue their efforts to apprehend the fugitive, the case serves as a stark reminder of the challenges posed by transnational financial crimes and the importance of robust enforcement measures to safeguard the integrity of the financial system.

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