One of the Binance executives detained in Nigeria, amidst a legal battle over cryptocurrency regulations, has managed to escape custody. Nadeem Anjarwalla, a key figure at the world’s largest cryptocurrency exchange, reportedly fled from a guest house in Abuja where he and his colleague were being held by security forces.
Reports indicate that Anjarwalla, 38, took advantage of a trip to a nearby mosque for Ramadan prayers to make his escape. Despite Nigerian authorities holding his British passport, Anjarwalla, who also holds Kenyan citizenship, reportedly boarded an international flight, raising questions about security protocols.
The detention of Anjarwalla and Gambaryan, who arrived in Nigeria following the country’s ban on several cryptocurrency trading websites, stemmed from allegations of tax evasion and other offenses. While they were initially granted a 14-day remand, subsequent court proceedings extended their detention amid disputes over compliance and charges related to taxation.
The escape of Anjarwalla has added a new layer of complexity to the ongoing legal battle between Binance and Nigerian authorities. The government has accused Binance of facilitating illicit activities, including money laundering and terrorism financing, totaling over $21.6 billion in trades conducted by concealed identities.
As investigations continue and efforts to locate Anjarwalla intensify, the cryptocurrency community and regulatory bodies are closely monitoring developments in this high-profile case, which has implications for the future of digital asset trading in Nigeria and beyond.
