Nigeria continues its legal battle with Binance. The
government is seeking the return of British-Kenyan national Nadeem Anjarwalla,
who escaped custody in March.
Anjarwalla, Binance’s regional manager for Africa, and US
citizen Tigran Gambaryan were detained in February 2024. They had travelled to
Nigeria to discuss allegations that Binance’s operations had contributed to the
depreciation of the naira, Blockhead reported.
Nigeria’s Economic and Financial Crimes Commission (EFCC)
later charged the exchange and its executives with five counts of money
laundering.
Nigeria Pursues Anjarwalla, Releases Gambaryan on Health
Anjarwalla fled to Kenya while his UK passport remained in
Nigerian custody. Nigeria’s Information Minister, Mohammed Idris, said
authorities, along with Interpol, are working to bring him back. “Nadeem
Anjarwalla actually did escape lawful custody, and this is against our laws,”
Idris said.
Gambaryan remained in detention for eight months before a
Nigerian court dropped the charges against him on humanitarian grounds. Reports
indicate he suffered from malaria, pneumonia, tonsillitis, and complications
from a herniated disk, leaving him reliant on a wheelchair. Authorities stated
he required medical treatment outside Nigeria.
The Federal High Court, Abuja, dismissed a fundamental rights enforcement suit filed by fleeing @binance Holdings Ltd’s executive, Nadeem Anjarwalla, against the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (@officialEFCC).🧵 pic.twitter.com/sTUwxJf60k
— CryptoTvplus (@Cryptotvplus) June 20, 2024
Nigeria Defends Charges, Binance CEO Objects
Binance CEO Richard Teng has criticized the government’s
actions, calling them unjustified. He said the exchange tried to cooperate but
faced resistance. Minister Idris rejected this claim, arguing that other crypto
firms operating in Nigeria had not encountered similar legal issues.
“There are
other companies operating in the crypto sector in Nigeria, you don’t see them
[facing charges],” he said. “The government is out to protect investors, not to
cripple anybody.”
This article was written by Tareq Sikder at www.financemagnates.com.
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