Binance Executive Escapes From Prison In Nigeria

Key Points:

• A Binance executive, Nadeem Anjarwalla, escaped detention in Nigeria using a fake passport.
• Nigerian authorities have charged the exchange with tax evasion, and two Binance executives have been remanded for refusing to grant access to Nigerian traders’ data.

According to Nigerian media outlet Premium Times, a detained Binance executive managed to escape from prison in Nigeria.

Binance Executive Escapes Detention in Nigeria Amidst Tax Evasion Charges

Nadeem Anjarwalla reportedly fled detention on March 22 after attending Friday Ramadan prayers at a mosque. The executive, along with colleagues, faced detainment in Abuja amidst allegations of tax evasion. Anjarwalla’s escape raises questions about airport security, as he purportedly flew out of Abuja using a Middle East airline despite his British passport remaining in Nigerian custody.

Authorities are working to ascertain Anjarwalla’s destination and method of acquiring a Kenyan passport used for his escape. Sources reveal the detained executives were housed in a “comfortable guest house” with access to phones, which Anjarwalla may have exploited to plan his escape.

Nigerian Authorities Charge Binance with Tax Evasion

The Nigerian government has charged Binance with tax evasion, prompting scrutiny and criticism. The court initially remanded two Binance executives for 14 days, demanding access to Nigerian traders’ data on the platform. Following Binance’s non-compliance, the court extended their remand by another 14 days to prevent evidence tampering.

Zakari Mijinyawa, Head of Strategic Communication at the Office of the National Security Adviser, promised to investigate Anjarwalla’s escape but has yet to provide an update.

The Nigerian government accuses Binance of processing billions in suspected criminal funds and setting exchange rates for the local currency, the naira. The situation underscores the ongoing tension between cryptocurrency platforms and regulatory authorities in Nigeria.