Sodeinde QuadriThe Economic and Financial Crimes Commission (EFCC) has intensified its pursuit of justice in the case involving Binance Holdings Limited and its executives, Tigran Gambaryan and Nadeem Anjarwalla, the latter being on the run. The commission has leveled charges of $35,400,000 money laundering against them.
Taking full control of the investigation from the Office of the National Security Adviser, the EFCC has detained Gambaryan and secured a court warrant for the arrest and extradition of Anjarwalla, who fled custody in Nigeria.
Collaborating with international law enforcement agencies such as Interpol, the Federal Bureau of Investigation (FBI), the United Kingdom government, and the Kenyan authorities, the EFCC aims to bring Anjarwalla to justice for his alleged involvement in financial irregularities.
The charges filed before the Federal High Court of Nigeria in Abuja accuse Binance Holdings Limited, Gambaryan, and Anjarwalla of various offenses, including conducting financial activities without a valid license, engaging in unlawful foreign exchange transactions, and concealing the origin of proceeds from illegal activities.
Anjarwalla’s escape from custody on March 22, 2024, using a smuggled Kenyan passport, has sparked a nationwide search effort. The escape, orchestrated during the ongoing Ramadan fast, involved the collusion of guards stationed at the guest house where Anjarwalla and Gambaryan were held.
The Office of the National Security Adviser (ONSA) has initiated a thorough investigation into the circumstances surrounding Anjarwalla’s escape. Security personnel responsible for his custody have been detained, and efforts are underway to determine his intended destination.
Despite holding British and Kenyan nationalities, Anjarwalla fled Nigeria using his Kenyan passport, while his British passport remained confiscated by Nigerian authorities.
Anjarwalla and Gambaryan were initially detained upon their arrival in Nigeria on February 26, 2024, and subsequently faced criminal charges for their alleged involvement in financial crimes. Binance’s refusal to comply with court orders led to the extension of their remand period.
The Nigerian government has also accused Binance Holdings Limited, Anjarwalla, and Gambaryan of tax evasion and other financial infractions, further complicating the legal battle.
This crackdown on Binance follows the platform’s recent settlement of criminal money laundering charges in the United States, where its founder, Changpeng Zhao, pleaded guilty and agreed to pay hefty fines. The Nigerian government alleges that Binance facilitated illicit financial activities, including money laundering and terrorism financing, undermining the country’s economy and currency stability.
As investigations continue, the EFCC and other relevant authorities remain determined to hold all involved parties accountable for their actions and ensure justice prevails in this complex case of financial malpractice.
