The Federal Government and the International Criminal Police Organisation (INTERPOL) have commenced the process of extraditing a Binance chief, Nadeem Anjarwalla, who escaped from detention on 22 March. Security agencies had in February arrested Anjarwalla and Tigran Gambaryan, two executives of the crypto-currency firm, Binance Holdings Limited, over alleged money laundering. They were detained in ‘a safe house’ in Abuja …

The trial of Binance Holdings Limited and its executives Tigran Gambaryan and Nadeem Anjarwalla by the Economic and Financial Crimes Commission (EFCC) for an alleged money laundering case of $35,400,000 will take place on Thursday. The EFCC formally charged Binance Holdings Limited, Gambaryan, and Anjarwalla with money laundering on 28 March. Anjarwalla, who fled Nigeria and is now in hiding, …

The Office of the National Security Adviser (ONSA) has confirmed that a suspect in the ongoing criminal probe into the activities of Binance in Nigeria, Nadeem Anjarwalla escaped from lawful custody last Friday. In a statement on Monday, the Head of Strategic Communication in the Office of the National Security Adviser, Zakari U. Mijinyawa said: “Upon receiving this report, this …

Experts and crypto enthusiasts have lamented the current ban on Binance naira operations in Nigeria, stating it may increase youth unemployment in the country. In separate interviews with The PUNCH, the experts called on the government to look for better means of managing the country’s current foreign exchange challenges. An economist with Lotus Beta Analytics, Shedrach Israel, said that the …

Cryptocurrency exchange, Binance has announced plans to discontinue all services related to the Nigerian currency, Naira. Binance, a cryptocurrency exchange platform, was accused of exploiting the Naira, leading to its free fall in value. The company is, in addition, facing allegations of terrorism financing, money laundering and tax invasion, among others. Nigeria is one of the largest peer-to-peer crypto markets …

The President’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga has made it clear that he never claimed the crypto trading platform, Binance, was aware of $10 billion penalty or that Nigerian regulators decided same. “I said our government may impose heavy fines on Binance for what happened. I never said Binance had been informed about the fines or …