A Binance executive dramatically escapes from detention in Nigeria!

Various reports have confirmed that the regional director of the Binance exchange in Africa fled Nigeria while the exchange was under investigation, prompting a wave of questions about the cryptocurrency trading activities carried out by the largest exchange in cryptocurrency in the world.

Binance executive escapes detention in Nigeria, taking advantage of Ramadan, leaves country under mysterious circumstances

According to a Nigerian mediaThe regional director of Binance Exchange in Africa, Nadeem Angarwala, has escaped from his place of detention in Nigeria. The 38-year-old man reportedly fled. After asking the guards to take him to a mosque to perform one of the prayers on the occasion of Ramadan.

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According to the sources interviewed, Nadeem Anjarwalla was under surveillance alongside Tigran Gambaryan, head of financial crime compliance at Binance. The individual in question allegedly planned to escape from a “comfortable guest house” where he was allowed to use his personal phone.

Later, Binance's Africa regional director boarded a plane for an international flight from Abuja, the capital of Nigeria. Authorities do not know how the fugitive official was able to board an international flight. While his British passport is still in the hands of the Nigerian authorities to this day.

So it is possible that Angarwala used his Kenyan passport, but that would mean he obtained it somehow between his escape and his flight. The destination of his journey remains unknown at the time of writing.

Binance has ignored Nigerian demands and the aura of suspicion surrounding it is growing

Leading exchange Binance has commented on the flight of its employees from Nigeria and confirmed that it is proactively working with Nigerian authorities to clarify the situation. It also stressed that its priority was the safety of its employees and was working in collaboration with the Nigerian authorities to quickly resolve this issue.

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Notably, a detention order against the fugitive official was issued for two weeks on February 28. The detention was later extended after Binance ignored a court request to transfer account information of some of its Nigerian clients.

The charges against the world's largest cryptocurrency exchange include allegations of non-payment of value-added tax, corporate tax and non-payment of tax returns. The platform is also accused of allowing its customers to evade taxes through various scams.

"(Binance) is obliged to pay taxes such as corporate income tax (CIT), as well as collect and remit value added tax (VAT). Since Binance has failed to comply these requirements, she therefore violated Nigerian laws and could have risked investigation and prosecution for this crime.

Federal Tax Service (FIRS)

According to the government, more than $21.6 billion was secretly traded by Nigerians on Binance. As for the problem with the organizers, this is not the first time. Binance is an expert in abuse and was even recently forced to pay $4.3 billion in fines in the United States following similar accusations.

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