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Highlights
- Blockchain Association of Kenya meets with Nigeria’s High Commission on detained Binance executives.
- The association raises concerns about the effects of the prolonged detention of executives.
- The detention of the Binance executives could hinder the continent's growing crypto adoption.
The Blockchain Association of Kenya (BAK) has met with the Nigerian High Commission representatives in the country to foster the release of Binance executives detained in Nigeria.
According to local media sources, the association made an urgent appeal for the release of Nadeem Anjarwalla, a member of the association and a Binance colleague both detained in the country.
Binance Executives Receive Support From BAK
The crux of the appeal lies in the abrupt detention of two Binance executives three weeks ago through the office of the National Security Adviser (NSA). Per the release, the prolonged detention questions the safeguard of human rights, fair principles, and due process.
“The Blockchain Association of Kenya (BAK) is deeply troubled by the recent arrest of Nadeem Anjarwalla, a prominent community member of our association, a fellow Binance colleague in Nigeria.”
Furthermore, the association expresses concern about the effects of recent developments on the blockchain sector within the region. Recently, African countries have recorded major achievements in web3 advancements, especially around rule-making and policy implementation.
Last year, the Central Bank of Nigeria lifted the ban on cryptocurrency trading with templates for financial institutions as the country continues to rank high in cryptocurrency trading volumes.
However, this incident will wipe out gains recorded in the crypto space last year. Eyebrows were also raised on the state of digital asset stakeholders in negotiations with the government without breach of local laws.
The association drew the Commission’s attention to the previous efforts of Nadeem in ensuring responsible governance in Kenya and beyond the continent. BAK appealed for the immediate release of Nadeem as no charges were filed in three weeks asking authorities to ensure his safety alongside his colleague at Binance.
“We stand in unwavering solidarity with Nadeem Anjarwalla, his fellow (Binance) executives, and their families, and we call for their prompt release and safe return to their home countries.”
Nadeem is a Kenyan-British citizen currently in detention in Nigeria following Binance’s push to negotiate with Nigerian authorities over the recent cryptocurrency saga in local markets.
Nigeria’s Crypto Debacle
Cryptocurrency exchange Binance is at the center of regulatory issues in Nigeria after authorities accused the platform and other exchanges of aiding the massive outflow of the naira.
Particularly, government officials accused cryptocurrency exchanges of aiding the free fall of its local currency through its peer-to-peer (P2P) platform. The country previously blocked access to Binance and other digital asset exchanges through a telecommunications ban. Binance has since delisted the NGN P2P and other related services.
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