Nigeria Government Collaborates with Interpol to Extradite Binance Director

The Nigerian Government Continues Struggle Against Suspicious Crypto Activities

Local sources report that high-level government sources in Nigeria have privately confirmed on April 2 that the extradition process of Nadeem Anjarwalla, Binance’s Africa regional director, has commenced, along with coordination with the U.S. Federal Bureau of Investigation (FBI) and governments of the UK and Kenya.

“The extradition process for Mr. Anjarwalla has been initiated. The federal government is collaborating with Interpol to extradite him, a fugitive from lawful detention, back to Nigeria. His accomplices remain in detention and will face charges on Thursday (April 4) along with Binance,” the source said.

FG, INTERPOL in talks over Binance CEO extradition.

Anjarwalla’s extradition process has begun. The FG is working with INTERPOL to extradite the fugitive to Nigeria. He and his other partner who is still in custody would be arraigned in court on Thursday. pic.twitter.com/YSLOPhD8XB

— Ibadan Watch (@IbadanWatch) April 3, 2024

Meanwhile, another high-level security source exclusively told the newspaper that security personnel were tasked with monitoring Anjarwalla before his escape as special investigators were closing in on him.

Recall that the Nigerian government, through the National Security Adviser’s office, had arrested Nadeem Anjarwalla and Tigran Gambaryan, senior executives of Binance, on February 28, 2024.

Their arrest was made during their visit to Nigeria after the government banned the operations of Binance and other major cryptocurrency exchanges. Their international passports were confiscated.

Related: Escalation of Tensions Between Nigeria and Binance

Nigeria Government Accuses Binance and Executives of Money Laundering $35.4 Million

On February 27, Central Bank of Nigeria Governor Olayemi Cardoso announced that Binance facilitated transactions worth $26 billion from Nigeria over the past year, with the source of these funds believed to be from anonymous sources and individual investors.

''in the case of Binance, In the last one year, 26 billion dollars has passed through Binance Nigeria from sources and users who we cannot adequately identify.''

CBN Governor, Olayemi Cardoso pic.twitter.com/A6O2wlsY5M

— Channels Television (@channelstv) February 27, 2024

As part of the investigation process, the Nigerian government wants the exchange to provide data on the top 100 traders/investors in the country, along with full transaction histories of all users for the past six months.

A few days after these demands were made, Nadeem Anjarwalla unexpectedly fled the country under unusual circumstances.

The Binance executive, holding dual citizenship from the UK and Kenya, is reported to have used his Kenyan passport to board a plane out of the West African nation. His escape has sparked criticism in Nigeria, with some security experts expressing embarrassment as he fled detention despite being under surveillance by security forces.

Following this leadership figure’s escape, Nigeria’s anti-corruption agency, the Economic and Financial Crimes Commission (EFCC), accused Binance Holdings Limited and Gambaryan of suspected involvement in money laundering on March 28.

Meanwhile, Binance exclusively informed the local newspaper on April 3 that Tigran Gambaryan, a Binance official who remains in custody, is not part of the company’s leadership but serves in a law enforcement role and does not have the authority to decide or disclose data on their top 100 traders in Nigeria.

Binance’s statement reads:

Binance respectfully suggests not to charge Tigran Gambaryan, who does not have decision-making authority within the company, while current discussions between Binance and Nigerian government officials are ongoing.