Nigeria’s local news sources report that government officials expect Anjarwalla to be extradited to the country within a week. This development brings the already tense Nigeria-Binance relations to an even more critical point. The process, which started in February when Nigeria accused Binance of manipulating the local exchange rate, tax evasion and money laundering, gained a new dimension with Anjarwalla’s escape. While Binance officials deny the accusations, the increasing popularity of the cryptocurrency market and the difficulties experienced in controlling these markets are seen as the main factors of tension.

The fact that Anjarwalla is a dual British-Kenyan citizen and fled Nigeria in March using a concealed Kenyan passport also reveals the international structure and security vulnerabilities of cryptocurrency exchanges. This situation calls into question the security protocols of the Nigerian security forces as well as the cryptocurrency exchanges themselves. The other detained Binance executive, Tigran Gambaryan, remained in Nigeria and denied money laundering charges at a court hearing in April. The course of Gambaryan’s case and the extradition process of Anjarwalla are of critical importance in the legal struggle between Nigeria and Binance.

Nigeria’s Daily Post newspaper, citing government sources, reported that Nigerian authorities had located Anjarwalla in Kenya and were working with Kenyan authorities to bring the senior executive back to the country. Nigerian newspaper The Punch, citing unnamed government sources, claimed that Anjarwalla could be extradited to Nigeria within the week through the international criminal police agency (INTERPOL). However, no official statement has been made yet and there has been no comment from INTERPOL, the Kenyan foreign ministry and the Nigerian police forces. This situation raises questions about the accuracy of the claims.

If Anjarwalla is actually in Kenya and Nigeria’s extradition request is successful, this could further escalate tensions between Binance and Nigeria. It could also add a new dimension to international discussions on the control and regulation of cryptocurrency exchanges. The borderless structure of the cryptocurrency market makes it difficult for countries to regulate and supervise these markets. This situation once again reveals the necessity of international cooperation.

It remains unclear how the crisis between Nigeria and Binance will end. Official statements from the Nigerian and Kenyan authorities in the coming days and whether INTERPOL will make a statement on the issue are important points to follow. These developments have a symbolic meaning in terms of the future of the cryptocurrency market and the approaches of states towards these markets. At the same time, it is critical for cryptocurrency exchanges to strengthen their internal security measures and ensure international cooperation to prevent such problems.