Binance Executive Escapes Custody in Nigeria.

26 Apr 2024

In a surprising turn of events, Nadeem Anjarwalla, a regional manager for Africa at cryptocurrency exchange Binance, has reportedly escaped from Nigerian custody. Anjarwalla, along with another Binance executive, Tigran Gambaryan, has been detained by Nigerian authorities since February 26, 2024, facing charges related to tax and value-added tax (VAT) compliance.

Details surrounding Anjarwalla's escape remain unclear. According to Premium Times, he fled the Abuja guest house where he was being held on Friday, March 22nd, after being escorted to a nearby mosque for prayers. Authorities are unsure how he managed to leave the country with his passport confiscated.

The escape comes amid ongoing tensions between Binance and the Nigerian government. The government accuses Binance of facilitating illegal activities and contributing to the decline of the Naira. Binance, on the other hand, maintains its commitment to working with authorities while denying any wrongdoing.

Both families of the detained executives have called for their release. Anjarwalla's wife, Elahe Anjarwalla, emphasized their desire for his return home, especially in light of their son's upcoming first birthday.

The Nigerian government, however, is demanding data on Binance's top users, which the company has yet to provide. This refusal has reportedly led to the extension of Gambaryan's detention.

The situation remains fluid, with Binance representatives focused on the safety of their employees and working towards a swift resolution. Further developments are expected in the coming days.

Play audio


Share:

Comments

No comments

Add your comment

Search Blog

Recent Posts

MarkHack 4.0 Introduces the First Ever Nigerian MarTech Awards  Nigeria’s first-ever marketing and medi...
How to Use Customer Feedback to Drive Product Innovation In today’s competitive marketplace, listening to c...
How Embedded Finance Is Changing Customer Expectations of Digital Banks Embedded finance is transforming the way consumers...
The Importance of Agile Methodologies for Startup Success In today’s fast-paced business landscape, where...
AI Will Power the Next Wave of Financial Inclusion, Says SANEF’s Uche Uzoebo As progress continues in enhancing financial inc...

Related Post

Meta Rolls Out New Facebook Measures to Suppress Spam and Support Real Creators
Meta has announced a series of new measures aimed at reducing spammy content o...
Logidoo Opens Global Trade Channels for African Businesses with Groupage Shipping
Logidoo, the pan-African logistics platform, has announced an important pivot to...
Lagos Turns Up for PUBG MOBILE Community Event with 1,000+ Attendees
On March 28, 2025, Lagos transformed into the ultimate gaming destination as PUB...
Logo

Accelerating the growth of Africa's tech ecosystem