A senior executive from the cryptocurrency exchange Binance has reportedly evaded custody in Nigeria, where authorities are investigating the platform for alleged involvement in money laundering.
Nadeem Anjarwalla, Binance’s regional manager for Africa, is said to have left Nigeria using a smuggled passport, according to a statement from Nigeria’s National Security Adviser’s office on Monday.
Nigeria boasts Africa’s largest cryptocurrency economy by trade volume, with many citizens turning to cryptocurrencies amidst surging inflation and a weakening local currency.
“The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention,” Zakari Mijinyawa, spokesman for the office of Nigeria’s National Security Adviser, said in a statement.
The Abuja-based Premium Times newspaper reported that Nadeem Anjarwalla, the Binance executive, escaped from a guest house in the capital city after guards allowed him entry to a nearby mosque for prayers.
Anjarwalla, who holds both British and Kenyan citizenship, was detained along with another colleague, Tigran Gambaryan, a US citizen, on February 26 when they arrived in Nigeria following the crackdown on the company. Gambaryan remains in custody, and the executives were due to appear in court on April 4.
Binance stopped trading with the Nigerian naira currency on its platform in early March after authorities accused it of being used for money laundering and financing terrorism. However, authorities have not publicly provided evidence for these accusations.
Nigeria’s tax agency, meanwhile, filed a four-count charge on tax evasion against the crypto exchange, accusing it also of “complicity in aiding customers to evade taxes through its platform”