Kenya Extradition: Binance Executive on the Run
2 min read
Kenya Extradition: Binance Executive on the Run
The Nigerian government is taking steps to extradite Nadeem Arjarwalla, a Binance executive who recently fled custody, from Kenya. According to local media outlet Punch, sources within the Presidency have confirmed that Arjarwalla went into hiding once he reached Kenya, but his whereabouts have now been discovered. This marks a new development in the ongoing saga surrounding Binance in Nigeria, as the country seeks to bring Arjarwalla back to face charges. The Nigerian government is collaborating with international security agencies like Interpol and the Kenyan Police to ensure his return.
Arjarwalla and his colleague Gambaryan had traveled to Nigeria in February amid allegations of Binance manipulating the country’s fiat currency, the naira. The two executives were detained after meeting with Nigerian government officials to discuss Binance’s regulatory challenges. The Economic and Financial Crime Commission (EFCC) took over the investigation from the National Security Adviser (NSA) and charged the exchange and its executives with money laundering.
On March 22, Arjarwalla reportedly escaped custody and managed to board a flight out of Abuja, the capital of Nigeria. It remains unclear how he was able to board the international flight without his British passport, which was in the custody of Nigerian authorities at the time. Immigration officials have disclosed that Arjarwalla used a Kenyan passport to leave the country, but it is currently under investigation how he acquired this document while in custody.
While Arjarwalla remains at large, Gambaryan, his colleague, has pleaded not guilty to the charges. His wife and supporters have launched a petition to bring him back to the United States, which has gathered thousands of signatures. Gambaryan’s case has been postponed until April 19. Binance, Has announced its intention to halt all naira transactions, effectively exiting the Nigerian market. The exchange’s peer-to-peer platform delisted all NGN trading pairs in late February.
The Central Bank of Nigeria had previously expressed suspicion towards crypto exchanges in the country, accusing them of facilitating illicit transactions and highlighting “suspicious flows” of funds at Binance. The situation between Binance and the Nigerian government continues to unfold, with extradition efforts underway and legal proceedings in progress.
Binance’s decision to halt all naira transactions demonstrates their disregard for the Nigerian market. They should face serious consequences for their actions.
It’s reassuring to see the Nigerian government collaborating with international security agencies like Interpol. 🌐 Together, they can track down Arjarwalla and ensure justice is served.
The Central Bank of Nigeria’s suspicions about crypto exchanges facilitating illicit transactions are justified. This case proves it.
The fact that Gambaryan’s case has been postponed indicates that the legal proceedings are being taken seriously. ⚖️ It’s important to ensure a fair trial for all parties involved.
The Central Bank of Nigeria’s concerns about crypto exchanges and suspicious funds are valid. It’s important to address any potential risks to protect the financial system.
The collaboration between the Nigerian government, Interpol, and the Kenyan Police is commendable! Together, they are ensuring that justice is served.