Legal drama: Nigerian court delays Binance executives’ arraignment amid criminal charges⚖️
The arraignment of two Binance executives held against their will by Nigerian authorities has been postponed until April 19 as the country seeks criminal charges against the Nigeria crypto duo, an Abuja court hearing reveals.
Binance’s head of financial crime compliance, Tigran Gambrayan, and the regional manager for Binance in Africa, Nadeem Anjarwalla, were in late February.
Binance Executives’ Hearing Delayed Amidst Criminal Charges⏳
Despite both facing charges of money laundering and operating a crypto exchange without proper licensing, only Gambrayan attended the court hearing on Thursday as Anjarwalla was able to escape captivity last month successfully.
Judge Emeka Nwite agreed to adjourn the hearing until April 19 following news of against Binance.
The postponement marks the latest twist in a nearly two-month legal saga for which has long advocated for the release of its detained employees at the hands of Nigerian authorities.
INTERPOL Reportedly Takes On Binance Nigeria Case🕵️♂️
The Nigerian legal delay comes just that the International Criminal Police Organization (INTERPOL) is working on the case in hopes of extraditing Anjarwalla to Nigeria.
“Mr Anjarwalla’s extradition process has begun,” Nigerian news site The Punch reported. “The Federal Government is working as did with INTERPOL to extradite the fugitive to Nigeria. He’s a fugitive that escaped from lawful custody, and his other partner is still in custody and would be arraigned on Thursday (April 4) alongside their company, Binance.”
On Thursday, Nigeria’s Inspector General of Police, Olukayode Egbetokun, told reporters he was confident in Anjarwalla’s eventual recapture.
Nigeria Cracks Down On Crypto🔨
Despite boasting the continent’s top crypto economy, Nigeria is seeking to to digital assets by effectively banning several exchanges from the country, including Binance, Coinbase, and more.
Central Bank of Nigeria Governor Olayemi Cardoso announced that $26 billion had moved through the country via Binance in 2023 alone “from sources and users we cannot adequately identify.”
Hot Take🔥
The legal plight of the Binance executives in Nigeria showcases the evolving landscape of cryptocurrency regulation in the country. As governments worldwide grapple with the impact of digital assets on traditional financial systems, incidents like these underscore the importance of adhering to legal frameworks to avoid potential legal consequences.
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