General
FG Combs Everywhere for Fleeing Binance Executive Nadeem Anjarwalla
By Modupe Gbadeyanka
The federal government has begun to spread its tentacles across the globe for the Executive Manager of Binance for the African region, Mr Nadeem Anjarwalla, who escaped from detention in Abuja last Friday.
Mr Anjarwalla was arrested alongside another top representative of the organisation, Mr Tigran Gambaryan, after they arrived in the country on February 26, 2024, at the invitation of the Nigerian government.
The government was looking into their alleged involvement in the manipulation of the Naira in the foreign exchange (FX) market through the cryptocurrency exchange platform.
They were kept in custody by the Office of the National Security Adviser (ONSA), which asked a court in Abuja for an order to extend their detention.
The matter was fixed for hearing on April 4, but last Friday, Mr Anjarwalla, a 38-year-old British and Kenyan citizen, fled the country after he was reportedly accompanied to a nearby mosque.
In a statement on Monday, the Head of Strategic Communication at ONSA, Mr Zakari Mijinyawa, disclosed that the necessary authorities have been notified of the development and efforts would be made to get him back to Nigeria wherever he is.
“The Federal Government, like other governments around the world, has been investigating money laundering and terrorism financing transactions perpetrated on the Binance currency exchange platform.
“Until his escape, Nadeem Anjarwalla, who holds British and Kenyan nationalities and serves as Binance’s Africa regional manager, was being tried by Nigerian courts.
“The suspect escaped while under a 14-day remand order by a court in Nigeria, and was scheduled to appear before the court again on April 4, 2024.
“The Office of the National Security Adviser confirms that Nadeem Anjarwalla, a suspect in the ongoing criminal probe into the activities of Binance in Nigeria escaped from lawful custody on Friday, March 22, 2024.
“Upon receiving this report, this office took immediate steps, in conjunction with relevant security agencies, MDAs, as well as the international community, to apprehend the suspect.
“Security agencies are working with Interpol for an international arrest warrant on Nadeem Anjarwalla.
“Preliminary investigation shows that Mr Anjarwalla fled Nigeria using a smuggled passport.
“The personnel responsible for the custody of the suspect have been arrested, and a thorough investigation is ongoing to unravel the circumstances that led to his escape from lawful detention,” the statement said.
By Emmanuel Udom
The Abeokuta diocese of the Catholic Church in Ogun State is set to hold a one-day training for all parish correspondents across its over 69 parishes in the state.
Business Post gathered that the training is planned for Saturday, May 3, 2025, at the St Peter & Paul Catholic Hall, located at Itesi along Adetan Road in Abeokuta, Ogun Sstate.
The training will commence from 10 am to 2.30 pm and the event is coming ahead of the church’s Communications Week (ComWeek) fixed for May 25 to June 1, 2025, at the same venue.
The Social Communication Director for the diocese, Fr Gregory Fadele, in a statement said all parish correspondents are expected to be at the venue of the training on or before 9.30 am for registration.
He, however, disclosed that no proxy arrangements would be allowed as refreshments, stationary, certificate of participation, and others would be given to each correspondent drawn from all the parishes of the Catholic church in Ogun State.
By Adedapo Adesanya
African Export-Import Bank (Afreximbank) has backed plans to set up an oil trading house called Africa Trading Minerals (Atmin), which will finance the purchase of refined petroleum products by African and Caribbean oil buyers.
The bank has invested $3 billion in the trading house, which it expects to finance about $10 billion to $14 billion of Intra-African petroleum imports.
Atmin will be based in Dubai, the United Arab Emirates, and is expected to have around 15 employees.
It will start with crude and then expand into oil products and minerals, according to reports.
Afreximbank will be a controlling shareholder at Atmin, while employees will own some 15 per cent of the firm.
The move takes place as oil majors and Western banks retreat from Africa, and the continent is facing a decline in oil and gas production due to under-investment, while also spending $30 billion annually on fuel imports.
It is also seeking to address Africa’s persistent reliance on imported refined petroleum products, which accounted for an amount of $30billion annually in petroleum import costs due to inadequate refining.
Key products to be traded are refined petroleum products including but not limited to Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Heavy Fuel Oil (HFO), Jet Fuel, and Kerosene. The eligible exporters are refineries operating in Africa.
According to Reuters, Atmin will be run by Mr Ajay Oommen,a former Shell executive who worked for the oil major for for 17 years as well as Mr Vikram Thakur, who worked for 18 years at Shell, including in business development, trading origination and structured finance, as well as Mr Joseph Kanaan, a trader at Shell for 11 years.
Speaking on this, Mr Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said that the development will have a direct impact on the volume of the refined petroleum products produced and consumed in Africa.
“It will also have a multiplier effect on the downstream petroleum value chain as it will catalyse critical investments in shipping and marine logistics for intra and extra African trade of crude oil and refined products.
“The multiplier effect will also be seen in marine cargo insurance and other ancillary businesses within the sector. We want to see an increased proportion of the about 4 mbpd of crude oil produced in the Gulf of Guinea refined in Africa,” he said.
By Modupe Gbadeyanka
A popular Lagos-based socialite, Mr Emeka Daniel Okonkwo, otherwise known as E-Money, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
The younger brother of a well-known musician, KCee, whose real name is Mr Kingsley Okonkwo, was reportedly arrested by the agency on Monday night at his residence at Omole Estate, Lagos.
He was accused of spraying foreign currency at a public function recently, an act believed to be against the Foreign Exchange Act.
At the time of filing this report, the EFCC has not reacted to reports of E-Money’s arrest.
The organisation is said to be looking into the matter with a view to prosecuting the socialite for the alleged offence.
He was said to have been flown to Abuja for questioning and should be taken to court to face the full wrath of the law if the agency is certain that he has committed an offence.
Recall that some days ago, E-Money was at the 50th birthday of another socialite, Mr Obinna Tochuukwu Iyiegbu, otherwise known as Obi Cubana, in Abuja.
He was also spotted at the wedding ceremony of Iyabo Ojo’s daughter in Lagos.
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