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Binance Executive Detained in Nigeria Escapes from Custody

Published

2 years ago

March 25, 2024

Eric

One of the two Binance executives detained in Nigeria for alleged tax evasion and other offences, Nadeem Anjarwalla, has escaped from lawful custody, according to PREMIUM TIMES report.

Our sources said Mr Anjarwalla, 38, escaped on Friday, 22 March, from the Abuja guest house where he and his colleague were detained after guards on duty led him to a nearby mosque for prayers in the spirit of the ongoing Ramadan fast.

The Briton, who also has Kenyan citizenship, is believed to have flown out of Abuja using a Middle East airliner.

It remains unclear how Mr Anjarwalla got on an international flight despite his British passport, with which he entered Nigeria, remaining in the custody of the Nigerian authorities.

Authorities are also said to be working to unravel his intended destination in a bid to get him back into custody.

An Immigration official said the Binance executive fled Nigeria on a Kenyan passport. He, however, said authorities were trying to determine how he obtained the passport, given that he had no other travel document (apart from the British passport) on him when he was taken into custody.

Another source said the two officials were held at a “comfortable guest house” and allowed many rights, including the use of telephones, a privilege Mr Anjarwalla is believed to have exploited to plot an escape.

When contacted Sunday night on the escape of the Binance executive from detention, the Head of Strategic Communication at the Office of the National Security Adviser, Zakari Mijinyawa, said he would enquire and revert. He has yet to do so as of the time of filing this report.

Mr Anjarwalla, Binance’s Africa regional manager, and Tigran Gambaryan, a US citizen overseeing financial crime compliance at the crypto exchange platform, were detained upon their arrival in Nigeria on 26 February 2024.

A criminal charge was filed against the two executives before a Magistrate Court in Abuja. On 28 February 2024, the court granted the Economic and Financial Crimes Commission (EFCC) an order to remand the duo for 14 days. The court also ordered Binance to provide the Nigerian government with the data/information of Nigerians trading on its platform.

Following Binance’s refusal to comply with the order, the court extended the remand of the officials for an additional 14 days to prevent them from tampering with evidence. The court then adjourned the case till 4 April 2024.

Also on 22 March, the Nigerian government approached the Federal High Court in Abuja and slammed another four-count charge on Binance Holdings Limited, Mr Anjarwalla and Mr Gambaryan, accusing them of offering services to subscribers on their platform while failing to register with the Federal Inland Revenue Service to pay all relevant taxes administered by the Service and in so doing, committed an offence, contrary to and punishable under Section 8 of the Value Added Tax Act of 1993 (as Amended).

The defendants were also accused of offering taxable services to subscribers on their trading platform while failing to issue invoices to those subscribers to determine and pay their value-added taxes and, in so doing, committed an offence contrary to and punishable under S.29 of the Value Added Tax Act of 1993 (as amended).

Count Three of the charges accused the three defendants of offering services to subscribers on their Binance trading platform for the buying and selling of cryptocurrencies and the remittance and transfer of those assets while failing to deduct the necessary Value Added Taxes arising from their operations and thereby committing an offence contrary to and punishable under Section 40 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).

The last count of the charges wants the defendants punished for allegedly aiding and abetting subscribers on their Binance trading platform to unlawfully refuse to pay taxes or neglect to pay those taxes and, in so doing, committing an offence contrary to and punishable under the provisions of S.94 of the Companies Income Tax Act (as amended).

The Nigerian government had, in the past three months, been cracking down on suspected money launderers and terrorism financiers, some of whom it alleged are using the Binance platform for criminal activities

The Nigerian government said over $21.6 billion was traded by Nigerians whose identities were concealed by Binance.

Source: Premium Times

Featured

Dangote Launches Historic ₦1trn Scholarship Scheme for 1.3m Students

Published

11 hours ago

December 12, 2025

Eric

The Chairman of the Aliko Dangote Foundation (ADF), Aliko Dangote, has launched a ₦1 trillion scholarship programme targeting more than 1.3 million Nigerian students over the next decade.

The initiative, the largest private-sector education support scheme in Nigeria’s history, will begin in 2026 with ₦100 billion disbursed annually across all 774 local governments.

The programme focuses on vulnerable learners, supporting undergraduate STEM students, technical trainees, and secondary school girls through tuition aid, study materials, and essential learning supplies.

It will be implemented through a fully digital, merit-based system in partnership with NELFUND, JAMB, NIMC, NUC, NBTE, WAEC and NECO.

Dangote said the intervention is a strategic investment in Nigeria’s future, stressing that financial hardship—not lack of talent—is the major barrier keeping many young people out of school. He added that 25 percent of his wealth has been committed to sustaining the Foundation’s long-term programmes.

Vice President Kashim Shettima described the scheme as a transformative act of nation-building, noting that it complements government reforms in basic, tertiary and technical education.

Education Minister Tunji Alausa said the programme aligns with the administration’s goal of transitioning Nigeria into a knowledge-driven economy, while Lagos State Governor Babajide Sanwo-Olu, speaking on behalf of his colleagues, pledged the governors’ full support.

Traditional rulers including the Emir of Lafia, Justice Sidi Dauda Bage, who chairs the programme’s steering committee, and the Ooni of Ife, Oba Adeyeye Ogunwusi, praised the initiative as unprecedented in scope and impact.

UN Deputy Secretary-General Amina Mohammed also commended the scheme, saying it will create conditions for children to learn and families to thrive.

The scholarship initiative reinforces the Aliko Dangote Foundation’s mission to expand opportunities, drive social impact and improve the wellbeing of communities across Nigeria.

Featured

Yakubu, Fani-Kayode, Ikpeazu, Others Scale Senate Screening Hurdle for Ambassadorial Positions

Published

1 day ago

December 11, 2025

Eric

The Senate Committee on Foreign Affairs, on Thursday, approved the nomination of former Minister of Aviation, Femi Fani-Kayode, for appointment as ambassador.

Other nominees cleared by the committee include former Minister of Interior Abdulrahman Dambazau, ex-special adviser on new media to former President Goodluck Jonathan, Reno Omokri, former presidential aide, Senator Ita Enang, and Senator Grace Bent.

Also confirmed were former INEC Chairman, Mahmood Yakubu; former Governor of Enugu, State Ifeanyi Ugwuanyi, and former Governor of Abia State, Victor Okezie Ikpeazu, among others.

The screening session, conducted in batches of five nominees each, experienced a mild drama during Omokri’s turn.

Senators Mohammed Ali Ndume and Adams Oshiomhole openly disagreed on how his clearance should proceed.

After Omokri’s batch had introduced themselves, Ndume moved a motion to allow the nominees to take a bow and leave.

Some senators, including Oshiomhole, indicated they wanted to comment.

The Committee Chairman, Senator Abubakar Sani Bello, recognised Oshiomhole to speak, but Ndume insisted that his motion should be seconded before allowing further interventions.

This led to a sharp disagreement between the two senators.

Featured

Tinubu Reiterates Directive on Withdrawal of VIP Police Protection

Published

2 days ago

December 10, 2025

Eric

President Bola Tinubu has insisted on his earlier directive ordering the withdrawal of police officers from very important persons (VIPs) in the country.

On November 23, Tinubu ordered the immediate withdrawal of police officers attached to VIPs across the country during a security meeting with the inspector-general of police (IGP), the chiefs of army and air staff, and the director-general of the Department of State Services (DSS).

The president said the move was aimed at boosting police presence in communities, especially remote areas where stations are understaffed and citizens remain vulnerable to attacks.

Speaking at the opening of the federal executive council (FEC) meeting on Wednesday, Tinubu warned against non-compliance and directed Nuhu Ribadu, national security adviser (NSA); Ibrahim Gaidam, minister of police; and Kayode Egbetokun, the IGP, to follow up on the implementation of the order.

The president noted that police officers were trained to protect the lives and property of citizens, particularly the most vulnerable in society, adding that the protection of a select group of VIPs is not their responsibility.

The president ordered Olubunmi Tunji-Ojo, the minister of interior, to make arrangements for the replacement of police officers by civil defence corps.

“If you have any problem because of the nature of your assignments, please contact the IGP and get my clearance,” he said.

“The National Security and Civil Defence Corps are trained for VIP protection, and they are armed too.

“We face challenges here and there of kidnapping, banditry and terrorism. We need all forces utilised. I know some people are exposed; we will make the exceptions. The civil defence is very much around.”

Tinubu said there is a need to mobilise the police appropriately due to the country’s security challenges.