The Nigerian government has traced the whereabouts of Nadeem Anjarwalla, a high-ranking executive of Binance, to Kenya. Anjarwalla had managed to escape custody in Nigeria, but his cover was blown upon his arrival in Kenya, according to a report from Nigerian media outlet The Punch. The report also said there have been intensified discussions between the…
Read more
Binance executive Nadeem Anjarwalla absconded from Nigerian custody in February after his arrest. At the time, he was detained along with American colleague Tigran Gambaryan on accusations of misconduct related to the exchange. In a Sunday interview with a local media outlet, a retired Nigerian official characterized Anjarwalla’s escape as “embarrassing.” He further deemed the…
Read more
Detained Binance executive Tigran Gambaryan has sued two Nigerian agencies, accusing them of infringing his basic human rights. Local media outlet Premium Times reported Thursday that the suit was filed against the Natural Security Adviser (NSA) and the Economic Financial Crimes Commission (EFCC) on March 18. Meanwhile, Nadeem Anjarwalla, Binance’s regional manager for Africa, has…
Read more
Binance, the world’s largest cryptocurrency exchange, is facing tax evasion charges in Nigeria, as the dispute between the exchange and Nigerian authorities escalates. The country’s tax watchdog, the Federal Inland Revenue Service (FIRS), announced the charges against Binance and revealed that two Binance executives have been detained by the government, local media outlets reported Monday. The charges…
Read more
There has been mounting pressure on the Biden administration to intervene and secure the release of the detained Binance executives. The administration is facing increasing calls to take swift action in securing the release of Tigran Gambaryan, a Binance executive and former U.S. federal agent, and another Binance executive, Nadeem Anjarwalla, who have been detained by the…
Read more
Nigerian authorities have reportedly requested Binance, the largest cryptocurrency exchange, to provide information on its top 100 users in Nigeria, along with its entire transaction history for the past six months, according to a report by the Financial Times on Tuesday. Nigeria may seek a $10 billion fine from Binance as retribution, as the country…
Read more
Two senior executives from cryptocurrency exchange Binance have been detained against their will by Nigerian authorities for the past two weeks. Tigran Gambaryan, who leads Binance’s criminal investigations team, and Nadeem Anjarwalla, Binance’s regional manager for Africa based in Kenya, have been stripped of their passports and confined to government property in Abuja, the Nigerian…
Read more
The promise of the blockchain and cryptocurrency still remains strong. Globally, there continues to be growing interest in the blockchain and peer-to-peer exchanges. We are seeing the institutional adoption of crypto and a rise in interest in retail adoption, too. We have seen the example in the approval of ETFs for bitcoin. However, with every…
Read more
Several crypto companies in Nigeria have made the decision to disallow users from buying the Tether (USDT) and USD Coin (USDC) stablecoins with Naira in light of renewed scrutiny from the Central Bank of Nigeria (CBN). The move comes as regulators intensify their focus on crypto platforms, citing concerns that they facilitate speculative trading and…
Read more
Nigeria’s crypto community has slammed the recent anti-industry stance of a government that previously lifted the ban on crypto trading. The majority of the country’s digital asset users and policy watchers have deemed the government has “misplaced priorities” adding that centralized cryptocurrency exchanges are not the cause of the falling currency. You lot are blaming…
Read more
