Reps probe Binance executive’s escape as FG dismisses bribery claim

Describing the escape of Binance chief, Nadeem Anjarwalla, using a ‘smuggled passport’ from National Security Adviser (NSA) custody as most disappointing, embarrassing and disturbing, the House of Representatives has resolved to investigate the incident, noting that the development exposed the porosity of Nigeria’s security architecture to the world.

It demanded that those found culpable should be brought to justice.
Adopting a motion by Dominic Okafor (LP: Anambra), the lower legislative chamber ordered its relevant committees to probe the matter and fish out culprits.

Anjarwalla, one of the two Binance chiefs detained for offences bordering on money laundering, escaped from custody on March 22 in the wake of the Federal Government’s crackdown on the cryptocurrency platform to strengthen the Naira.

While government later traced him to Kenya, multiple reports said Anjarwalla was in the custody of the East African nation’s police.

Since his escape, the Economic and Financial Crimes Commission (EFCC) International Criminal Police, Nigeria Police Force (NPF) and Kenyan Police Service have been in talks to extradite the Binance executive.

Okafor, while throwing more light on his motion, regretted that persons suspected to have committed such atrocious crimes against the country could be kept in a guest house in Abuja instead of being in Department of State Services (DSS) custody or any other approved custodial facility.

The lawmakers, therefore, mandated the Director General of the secret police to take over the investigation and ensure the prosecution of indicted personnel.

But the Federal Government has termed as diversionary, Binance’s allegation of a $150 million bribery demand against unidentified officials to resolve the ongoing criminal investigation against the company.

The current administration said it is aware of Binance’s attempt to launder its impaired image as an organisation that does not play by the rules and laws guiding business conduct in sovereign nations.

In a blog post that has now been published by many international media organisations, Binance’s Chief Executive Officer, Richard Teng, alleged that unnamed Nigerian government officials demanded a huge sum in cryptocurrency payment to waive the matter.

In a statement yesterday in Abuja, Minister of Information and National Orientation, Mohammed Idris, insisted that the claim lacked substance.

He said: “The facts of this matter remain that Binance is being investigated in Nigeria for allowing its platform to be used for money laundering, terrorism financing and foreign exchange manipulation through illegal trading.

“While this lawful investigation was going on, an executive of Binance, who was in court-sanctioned protective custody, escaped from Nigeria, and he is now a fugitive from the law. Working with the security agencies in Nigeria, Interpol is currently executing an international arrest warrant on the said fugitive.”

Idris observed that the “phantom bribe claim is part of an orchestrated international campaign by this company that is facing criminal prosecution in many countries, including the United States, to undermine the Nigerian government.”

He went on: “Just a week ago, the founder and former CEO of Binance, Changpeng Zhao, was sentenced to prison in the United States, after pleading guilty to charges very similar to what Binance is being investigated for in Nigeria. In addition, Zhao agreed to pay a fine of $50 million, while Binance is liable for $4.3 billion in fines and forfeitures to the U.S.”