A recent report from Punch, a local Nigerian media outlet, reveals that the Nigerian government has successfully traced Binance executive Nadeem Arjarwalla to Kenya. Following his escape from custody, the government is now working towards extraditing him back to Nigeria to face charges related to regulatory issues.

Initially, Arjarwalla went into hiding upon arriving in Kenya, but his location has now been exposed, potentially opening a new chapter in this ongoing saga. The Nigerian government, in collaboration with international security agencies such as Interpol and the Kenyan Police, is making efforts to ensure his return to Nigeria.

Arjarwalla was taken into custody alongside another Binance executive following a meeting with the Nigerian government to discuss Binance's regulatory challenges in the country. A source from the Presidency confirmed, "We have found him. We know where he is. He is in Kenya, and we’re working with the authorities to bring him back to Nigeria."

The Nigerian government is determined to bring Arjarwalla back to face the allegations against him. According to the report, other sources also confirmed the government's efforts to extradite Arjarwalla.

Binance and its executives, including Arjarwalla and Tigran Gambaryan, were accused of facilitating trades through the P2P platform, which led to the decline of the local currency. Arjarwalla and Gambaryan were arrested in February, despite criticism from the cryptocurrency industry.

The Economic and Financial Crime Commission (EFCC) took over the investigation from the National Security Adviser (NSA). The anti-graft agency charged the exchange and its two executives with five counts of money laundering.

While Arjarwalla remains outside Nigeria, Gambaryan has pleaded not guilty to the charges, with his wife and supporters advocating for his release after several weeks in detention. Meanwhile, Binance has disabled its naira P2P service following the government's investigation.