A Binance executive named Nadeem Anjarwalla reportedly fled from detention in Nigeria with the use of a counterfeit passport, a situation that was disclosed by local sources.

This incident is part of a larger controversy involving the cryptocurrency exchange, as the Nigerian government has initiated criminal charges against Binance for alleged tax evasion, with legal proceedings commencing at the Federal High Court in Abuja.

Anjarwalla, along with Tigran Gambaryan, was held in Abuja, detained in a guest house for an extended period. He managed to escape after being allowed to leave for prayers and then boarding a flight from Abuja using a Kenyan passport, even though his original British passport was being held by Nigerian authorities.

Questions have been raised regarding how he acquired the Kenyan passport and was able to board an international flight without his primary travel documents.

The detention of these Binance executives started on February 26 following a magistrate court's decision. The court granted the Economic and Financial Crimes Commission (EFCC) permission to detain them for 14 days due to a criminal complaint. The detention period was later extended because of Binance's non-compliance with a court order to provide data on Nigerian traders.

The Binance spokesperson mentioned that they were informed Nadeem is no longer in Nigerian custody. They emphasized their main focus on ensuring the safety of their employees and working closely with Nigerian authorities to resolve the issue promptly.

This incident has brought attention to the Nigerian government's strict approach to financial crimes, particularly those related to terrorist financing and money laundering. Allegations suggest that Binance's platform has been involved in laundering around $21 billion, leading to stringent actions against the exchange and its affiliates.

This situation not only highlights the challenges of regulating cryptocurrency exchanges but also showcases the difficulties in upholding the integrity of financial transactions on a global level.