The Nigerian government has successfully located Binance executive Nadeem Anjarwalla in Kenya after he fled custody. Anjarwalla is facing allegations of money laundering, tax evasion, and currency speculation amounting to $35.4 million.

Efforts are now underway to bring Anjarwalla back to Nigeria in collaboration with Kenyan authorities. The case involves multiple Nigerian agencies, including the Economic and Financial Crimes Commission (EFCC), the Nigeria Police, and Interpol.

Anjarwalla managed to escape custody on March 22, allegedly using his UK passport to board a flight out of Abuja. Despite ongoing investigations and the involvement of various agencies like the military and the Department of State Services, Anjarwalla successfully evaded capture.

In response to the situation, Binance announced the halt of all naira transactions in Nigeria and removed all naira trading pairs from its platform. This decision followed increased scrutiny from the Nigerian government regarding suspected money laundering activities on the exchange.

Central Bank of Nigeria governor, Olayemi Cardoso, has previously raised concerns about crypto exchanges in Nigeria facilitating illicit transactions worth over $21.6 billion.

The case involving Anjarwalla and Binance highlights the growing regulatory challenges facing cryptocurrency exchanges in Nigeria and the efforts of authorities to combat financial crimes in the digital asset space.

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