Binance Officials Are Saying They’re Getting Out of Arrest


An arrested Binance executive has reportedly been released from prison in Nigeria.

Per Forbes, the main fugitive, British-Kenyan citizen Nadeem Anjarwalla, was arrested by Nigerian authorities along with US citizen and fellow Binancer Tigran Gambaryan in February. According to to Price CNBCreports that Anjarwalla had escaped from custody – the pair were holed up in a guest house in Nigeria’s capital Abuja – began circulating on Friday, and the rumors were confirmed on Monday when the Nigerian government filed a tax evasion case. struggle cryptocurrency exchange.

“We have been informed that Nadeem is no longer in custody in Nigeria,” a Binance spokesperson said Price CNBC. “Our primary focus remains on the safety of our staff and we are working closely with the Nigerian authorities to resolve this matter as soon as possible.”

National security adviser he said Reuters that Nigeria is working with Interpol to issue international arrest warrants for officials, namely only new ones crypto executive to go to lam.

The Bad Hand

The arrest of Anjarwalla and Gambaryan in Nigeria has been difficult from the beginning. According to Price CNBC, the February arrest of the two was carried out after they arrived in Nigeria; their passports were taken immediately, and as of Monday, no charges have been filed. Their detention was due to expire on March 12, but Nigerian authorities – without saying anything – extended the date for their release.

Binance has a large presence in Nigeria, a fact that is closely related to the depreciation of the naira, Nigeria’s national currency. Like Price CNBC he explains, many Nigerians have invested in cryptocurrencies as a way of protecting their money from inflation and devaluation, which the Nigerian government says has helped keep the value of the naira low. (Although it can be argued that Binance has taken over Nigeria’s currency crisis, the country’s naira issues. faster than crypto.)

The country’s government has said so he also said that Binance and other cryptocurrency platforms allow easy money fraudulently across the region.

In “just one year,” Nigeria’s central bank governor Olayemi Cardoso said at a February press conference after the arrest of the officials, According to The Financial Times, “26 billion dollars have passed through Binance Nigeria from sources and users we cannot fully identify.”

Considering that the former CEO of Binance Changpeng “CZ” Zhao dropped on the exchange and He pleaded guilty to embezzlement in a US court in November, the claims don’t seem far-fetched.

Per and BBC, Anjarwalla and Gambaryan were scheduled to appear in court together in early April. Now, if Anjarwalla is not prosecuted, it seems that Gambaryan may have to face the courts alone.

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