Nadeem Anjarwalla, a Binance executive accused of fleeing Nigeria amidst a government crackdown on cryptocurrency platforms, has been apprehended by Kenyan police. Anjarwalla's escape from Nigerian custody prompted a multi-agency effort involving the Economic and Financial Crimes Commission (EFCC), International Criminal Police, and Nigerian Police Force, among others, to secure his extradition.
The EFCC confirmed plans to extradite Anjarwalla, citing allegations of tax evasion, currency speculation, and money laundering amounting to $35.4 million. Anjarwalla, who holds British and Kenyan citizenship and serves as Binance's Africa Regional Manager, was facing trial in Nigerian courts before his escape.
The Nigerian government's intensified crackdown on Binance reflects broader concerns about cryptocurrency regulation, with the Central Bank of Nigeria alleging that over $26 billion was funneled through Binance without trace.
As the legal battle unfolds, Anjarwalla's arrest raises questions about the future of cryptocurrency operations in Africa and the regulatory challenges facing the industry.
