Reported by CHINEDU ASADU Associated Press

An executive of cryptocurrency exchange Binance has escaped custody in Nigeria, where a criminal investigation has been launched against the platform accused of being used for money laundering, authorities said Monday.

Nadeem Anjarwalla, the regional manager for Binance in Africa, “fled Nigeria using a smuggled passport,” the office of Nigeria’s National Security Adviser said in a statement, calling for “whatever information that can assist law enforcement agencies to apprehend the suspect.”

Nigeria is Africa’s largest crypto economy in terms of trade volume with many citizens using crypto to hedge their finances against surging inflation and the declining local currency.

Anjarwalla, who holds dual British and Kenyan citizenship, had been detained in Nigeria along with another colleague since Feb. 26 when they arrived in the country following a crackdown on the crypto platform. Tigran Gambaryan, the colleague who is an American citizen, remains in captivity.

Read full report: https://abcnews.go.com/amp/International/wireStory/binance-executive-detained-nigeria-amid-crypto-crackdown-escaped-108474107