The Nigerian Government has located Nadeem Arjarwalla, an executive from Binance, in Kenya after he managed to escape custody. The government is now working with Interpol and Kenyan police to extradite him back to Nigeria to face charges. Arjarwalla arrived in Nigeria in February amid allegations that the exchange manipulated the country’s fiat currency, the Nigerian naira. He was detained along with another Binance executive but was able to flee on March 22 and board a flight out of Abuja, Nigeria’s capital. It is unclear how he managed to board the flight as his UK passport, which he used to enter Nigeria, is still in the custody of Nigerian authorities. An immigration official revealed that Arjarwalla fled on a Kenyan passport, and authorities are investigating how he obtained it. Meanwhile, Tigran Gambaryan, the other detained Binance executive, has pleaded not guilty to the charges. His wife has started a petition to bring him back to the United States, which has gained thousands of signatures. Binance announced on March 5 that it would stop all naira transactions and delisted all naira trading pairs on its peer-to-peer platform in late February. The Central Bank of Nigeria had previously expressed suspicions of illicit transactions and suspicious flows of funds at Binance.
Extradition Process Initiated to Bring Binance Executive Located in Kenya Back to Face Charges