Binance, the global cryptocurrency exchange, has confirmed that its executive, Nadeem Anjarwalla, is no longer in Nigerian custody.

The spokesperson for Binance, Samantha Fuller, disclosed this information to PUNCH Online via email on Monday.

The crypto exchange said its concern continues to be the safety and well-being of its employees, and it is actively collaborating with Nigerian authorities to swiftly resolve the matter.

“We were made aware that Nadeem is no longer in Nigerian custody. Our primary focus remains on the safety of our employees, and we are working collaboratively with Nigerian authorities to quickly resolve this issue,” said Fuller.

However, the spokesperson did not provide details on how the executive left Nigerian custody.

PUNCH Online reported that the 38-year-old British-Kenyan citizen fled on March 22 from the Abuja guest house where he and his colleague were being held.

The detention of Anjarwalla and his colleague, Tigran Gambaryan, unfolded after they arrived in Nigeria on February 26, 2024.

Gambaryan, a U.S. citizen overseeing financial crime compliance at Binance, and Anjarwalla, hailing from a British-Kenyan background and serving as Binance’s Africa regional manager, encountered detainment upon their arrival in Nigeria on February 26.

The circumstances surrounding Anjarwalla’s escape remain unclear, as he allegedly took advantage of a visit to a nearby mosque for prayers during Ramadan to evade authorities.

Despite his British passport being in Nigerian custody upon entry, Anjarwalla reportedly fled using a Kenyan passport, raising questions about how he obtained it while in custody.

Earlier, PUNCH Online reached out to JNPR, the public relations agency that works for Binance executives, for confirmation on the matter.

The communications consultant at JNPR, Jessica Gois, stated, “I am currently seeking feedback from my clients. Unfortunately, I can’t share any information at the moment. As soon as I receive any updates, I will let you know.”

Authorities are now scrambling to ascertain Anjarwalla’s whereabouts and the specifics of his escape, with investigations underway to determine his intended destination.

Last week, the families of the executives said they would remain in detention for at least two more weeks in Nigeria.

The duo appeared in court for the first time on Wednesday, even though they were not charged with a crime.

This detention follows Nigeria’s recent crackdown on various cryptocurrency trading platforms.

On March 8, the exchange announced its decision to cease its naira-to-dollar exchange services in Nigeria due to a dispute with Nigerian authorities, who accused the platform of manipulating the country’s foreign exchange rate.

The Central Bank of Nigeria Governor, Yemi Cardoso, said that over $26bn in illicit funds had transited through the platform in the previous year. (The PUNCH)

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