Victor EzejaThe Office of the National Security Adviser has confirmed that Nadeem Anjarwalla, a suspect in the ongoing criminal probe into the activities of a leading cryptocurrency exchange platform, Binance, in Nigeria has escaped from lawful custody on Friday, 22 March 2024.
According to a statement by Zakari Mijinyawa, Head, Strategic Communications, Office of the National Security Adviser, NSA upon receiving the report, taken immediate steps, in conjunction with relevant security agencies, MDAs, as well as the international community, to apprehend the suspect.
Join our WhatsApp Channel“Security agencies are working with Interpol for an international arrest warrant on the suspect,” NSA stated, adding that “Preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport.”
It said that the person responsible for the custody of the Binance Executive “have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention.”
The Nigerian Government has been investigating money laundering and terrorism financing transactions allegedly perpetrated on the Binance currency exchange platform.
Until his escape, Nadeem Anjarwalla, who holds British and Kenyan nationalities and serving as Binance’s Africa regional manager, was being tried by Nigerian courts. The suspect escaped while under a 14-day remand order by a court in Nigeria. He was scheduled to appear before the court again on 4 April 2024.
“We urge the Nigerian public and the international community to provide whatever information they have that can assist law enforcement agencies to apprehend the suspect,” NSA added.
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Meanwhile, the Federal Inland Revenue Service (FIRS), has filed a suit against Binance Nigeria for alleged tax invasion.
A statement signed by Dare Adekanmbi, special adviser on media to FIRS chairman said the agency filed four count charges bordering on tax evasion against Binance at the Federal High Court Abuja on Monday.
The statement said Tigran Gambaryan and Nadeem Anjarwalla, both senior executives of the exchange were joined in the suit with number FHC/ABJ/CR/115/2024.
Some of the charges leveled against Binance include charges allegations of non-payment of Value-Added Tax (VAT), Company Income Tax, failure to file tax returns, and complicity in aiding customers to evade taxes through its platform.
FIRS also alleged that Binance failed to register with it for tax purposes and contravened existing tax regulations within the country.
“Any company that transacts business in excess of N25 million annually is deemed by the Finance Act to be present in Nigeria.
“According to this rule, Binance falls into that category. So, it has to pay taxes like Company Income Tax (CIT) and also collect and pay Value Added Tax (VAT).
“But Binance did not do this properly. So, the company broke Nigerian laws and could be investigated and taken to court for this infraction,” Mr Adekanmbi said.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
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