Binance Executive Escapes Detention in Nigeria, Flies Out of Country

ABUJA, Nigeria – In a dramatic twist to the cryptocurrency regulation saga in Nigeria, Nadeem Anjarwalla, a senior executive of the global cryptocurrency exchange platform Binance, has reportedly fled the country.

Anjarwalla, the regional manager for Africa at Binance, was detained in Abuja, the nation’s capital, in connection with efforts by the Nigerian government to regulate the impact of cryptocurrency on the national currency, the naira.

An insider revealed that Anjarwalla and his colleague Tigran Gambaryan were arrested last month by officials from the office of the National Security Adviser (NSA).

The duo was allegedly detained in a “pleasant guest house” in Abuja, enjoying several privileges, including access to telephones.

The government’s move to arrest the Binance executives comes as part of a broader initiative to curb speculation on the naira by closely monitoring cryptocurrency exchanges operating within the country.

However, in a surprising turn of events, Anjarwalla managed to escape from the guest house on March 22.

His disappearance was noted after guards had escorted him to a nearby mosque for prayers, sparking a flurry of speculation about the circumstances of his escape.

It is believed that Anjarwalla, who holds British nationality in addition to Kenyan citizenship, left Abuja aboard a flight operated by a Middle East airline, utilizing a Kenyan passport.

This detail raises questions about the escape, especially given that Anjarwalla was not known to have any travel document other than his British passport at the time of his arrest.

An immigration official confirmed to a Nigerian newspaper the use of a Kenyan passport in Anjarwalla’s departure but did not elaborate on how the executive might have acquired it.

In a related development, the Nigerian government escalated its actions against Binance by filing tax evasion charges against the company on Monday.

This legal move adds another layer of complexity to the ongoing conflict between Nigerian authorities and cryptocurrency exchange platforms.