The Global Pursuit: Binance Executive Traced To Kenya Amid Extradition Talks

The Nigerian Government has located Binance executive Nadeem Arjarwalla in Kenya after he escaped from custody and is now pursuing extradition procedures to return him to Nigeria. 

Reports from local media outlet Punch suggest that sources within the Nigerian presidency revealed Arjarwalla’s decision to go into hiding upon his arrival in Kenya.

The Nigerian government, along with Interpol and the Kenyan police, is working together to extradite Arjarwalla to Nigeria. He is facing charges that have been brought against him in Nigeria. The collaboration aims to ensure that he faces justice for the alleged offenses.

Arjarwalla had arrived in Nigeria in Feb amid allegations of currency manipulation involving the Nigerian naira. Following a meeting with the Nigerian government, Arjarwalla and another Binance executive were detained.

The Economic and Financial Crime Commission (EFCC) is leading the investigation and has charged the exchange and its executives with five counts related to money laundering. However, Arjarwalla reportedly escaped custody on Mar 22 and left Abuja on a flight.

Anjarwalla allegedly departed Abuja on a Middle Eastern airline. Yet, it’s uncertain how he accessed the international flight, given that his UK passport, used for entry into Nigeria, is still held by Nigerian authorities.

Binance Nigeria Exit: Ceasing Naira Transactions

An immigration official revealed that the Binance executive fled Nigeria using a Kenyan passport. Authorities are currently investigating how Anjarwalla obtained the passport, as he lacked other travel documents during his time in custody. The situation underscores the complexities surrounding international travel and legal scrutiny.

While Arjarwalla remains out of the country, Gambaryan pleaded not guilty to the charges, with his wife and others calling for his release after several weeks in detention.

Gambaryan’s wife initiated a petition to repatriate him, gathering 3,373 signatures by the time of its publication. However, Gambaryan’s case has been adjourned until April 19.

On Mar 5, Binance announced its intention to cease all naira transactions, effectively exiting the market. Binance also mentioned that its peer-to-peer platform delisted all naira trading pairs in late February.

The governor of the Central Bank of Nigeria claimed on Feb. 27 that crypto exchanges in Nigeria were involved in illicit transactions. He specifically highlighted “suspicious flows” of funds at Binance. This raised concerns about the integrity of cryptocurrency trading in the country.

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