Binance exec arrested in Kenya, could face extradition to Nigeria: Report

April 22, 2024 Coin Telegraph

Binance

Kenya’s police force reportedly arrested Nadeem Anjarwalla and may send the Binance executive to Nigeria to face charges with his colleague, Tigran Gambaryan.

Nadeem Anjarwalla, a British and Kenyan national who works at cryptocurrency exchange Binance, has reportedly been detained in Kenya after fleeing Nigeria in March.

According to several Kenyan news outlet reports from April 22, local police arrested Anjarwalla and may extradite the Binance executive to Nigeria to face criminal charges. Anjarwalla reportedly escaped custody in Nigeria on March 22 after he was taken to a mosque for prayers, fleeing the country using his Kenyan passport.

Cointelegraph was unable to confirm reports of Anjarwalla’s arrest in Kenya. He initially traveled to Nigeria in February with fellow Binance executive Tigran Gambaryan following claims the exchange manipulated the country’s fiat currency, the naira. Authorities detained both men after Binance announced that it intended to cease all naira transactions.

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Binance tax evasion trial moved to May 17 in Nigeria

April 20, 2024 Coin Telegraph

Binance

Gambaryan’s lawyer, Chukwuka Ikuazom, objected, citing Nigerian law, stating he couldn’t plead until Binance, the primary defendant, was served.

The tax evasion trial in a Nigerian court involving cryptocurrency exchange Binance and two of its executives has been adjourned to May 17. This delay occurred because the exchange had not yet been formally served with the charges.

According to local news agency BusinessDay, the Federal Inland Revenue Service (FIRS) has not served Binance with tax evasion charges. The FIRS lawyer argued that Gambaryan should represent Binance as the primary defendant, had been served, given that both Binance and its executives were charged together.

However, Gambaryan’s lawyer, Chukwuka Ikuazom, objected, citing Nigerian law, stating he couldn’t plead until Binance, the primary defendant, was served. Judge Emeka Nwite adjourned the proceedings for May 17, when he will give a ruling.

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USA to forge AI partnership with Nigeria for economic growth

April 20, 2024 Coin Telegraph

Coin Telegraph

The partnership aims to strengthen economic ties and ensure that AI deployment is safe, secure, transparent, and trustworthy.

The United States of America (U.S.A) and Nigeria are poised to engage in discussions on the digital economy, emerging technology, and the advancement of artificial intelligence (AI) to explore potential partnership opportunities.

During the closing ceremony of a four-day Workshop on National Artificial Intelligence Strategy in Abuja, Mr. Arthur Brown, the Deputy Chief of Mission at the U.S. Embassy, revealed this information. Brown stated that within two weeks, senior officials from the U.S. government would convene in Abuja for a conference organized by the U.S.-Nigeria Bi-National Commission.

Providing further details on the upcoming meeting, the deputy chief of mission said the United States aims to capitalize on the momentum generated by a four-day workshop by organizing an AI conference in Lagos.

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Nigeria launches first multilingual large language model in Africa

April 20, 2024 Coin Telegraph

Coin Telegraph

Communications Minister Dr. Bosun Tijani revealed a collaboration between 21st Century Technologies, and Galaxy Backbone to expedite the progress of artificial intelligence projects crucial to the nation.

Through the Ministry of Communications, Innovation, and Digital Economy, the Nigerian government has launched Nigeria’s first multilingual large language model (LLM) as the country pushes forward to take a leadership position in artificial intelligence (AI) development in Africa.

Nigeria’s Communications Minister, Dr. Bosun Tijani, announced on Friday, April 19, that the LLM launch stemmed from a four-day AI workshop held earlier that week in the country’s capital, Abuja.

According to Tijani, the launch of the AI tool was facilitated by a collaboration involving Nigerian AI firm Awarritech, global tech company DataDotOrg, the National Information Technology Development Agency (NITDA), and the National Centre for AI and Robotics (NCAIR). The Minister stated,

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Binance exec remains in jail as bail appeal fails again

April 19, 2024 Coin Telegraph

Binance

Gambaryan’s lawyer, Mark Mordi, criticized the prosecution for failing to file a response to the additional affidavit submitted with his bail application.

A Federal High Court in Abuja has once again postponed the bail application hearing for Binance executive Tigran Gambaryan, who remains in custody at the Kuje correctional center.

Originally set for April 18, the court has rescheduled the hearing for April 22, according to local news agency Nairametrics.

~~After being previously adjourned until April 18, the court has further stalled the bail application hearing, to April 22, local news agency Nairametrics reported.~~

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Nigeria Orders Incarceration of Binance Executive Following Money Laundering and Tax Evasion Charges: Report

April 10, 2024 The Daily Hodl

Binance

A Nigerian federal high court has ordered a senior Binance executive to be remanded for over a week at a prison in Abuja, the country’s capital, according to a Premium Times report. The federal high court reportedly issued the order after the head of financial crime compliance at Binance, Tigran Gambaryan, was arraigned on five […]

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Binance Executive Escapes Nigerian Custody As Country Files Tax Evasion Charges: Report

March 25, 2024 The Daily Hodl

Binance

Binance’s African regional manager is on the run from Nigerian authorities as the country targets the crypto exchange with tax evasion charges. Earlier this month, two Binance executives were detained against their will in Abuja, Nigeria. According to reports, Tigran Gambaryan, a former US federal agent who led the criminal investigations team at Binance, and Nadeem Anjarwalla, […]

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Binance Executives Held in Custody in Nigerian Capital Amid Probe From Government: Report

March 13, 2024 The Daily Hodl

Binance

Two Binance executives are being detained against their will in Abuja, Nigeria, according to a Wired report. The report says that Tigran Gambaryan, a former US federal agent who now leads the criminal investigations team at Binance and Nadeem Anjarwalla, the crypto exchange’s regional manager for Africa, are being held in the Nigerian capital. According […]

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Binance Discontinues All Services for Nigerian Naira After Employees Detained by Government and Threatened With Fine

March 5, 2024 The Daily Hodl

Binance

Binance, the world’s largest crypto exchange by trading volume is discontinuing support for the largest economy in Africa’s national currency. Late last week, the government of Nigeria demanded nearly $10 billion from Binance, alleging that the crypto exchange manipulated the exchange rate of its fiat currency. According to local reports, the Nigerian government slapped Binance with […]

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Nigerian Politician Calls Terror Financing and Money Laundering Allegations Against Binance ‘Damning’: Report

March 5, 2024 The Daily Hodl

Binance

A Nigerian lawmaker is accusing Binance of violating the law, according to a report by the Punch newspaper. The Punch report quotes the chairman of Nigeria’s House of Representatives Committee on Financial Crimes, Ginger Onwusibe, saying that the country’s constitution empowers lawmakers to “protect Nigerians from financial crimes, especially by foreign companies.” “We also have […]

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Nigeria

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