A prominent Kenyan executive at the helm of a leading cryptocurrency firm operating in Africa has reportedly evaded detention in Nigeria, where he faced charges of tax evasion. The startling news broke on Monday, March 25, as revealed by Nigerian publication Premium Times.
According to initial reports disclosed by the publication, the suspect managed to flee from a guest house where he was being held in custody alongside others. Sources suggest that the escape occurred under the guise of attending Ramadhan prayers at a nearby mosque, during which the individual exploited a window of opportunity to abscond.
The high-profile figure, who holds dual citizenship in Kenya and the United Kingdom, is speculated to have utilized his Kenyan passport to facilitate his departure, as Nigerian authorities had previously confiscated his passport. However, Nigerian authorities have vehemently refuted these claims, contending that the individual did not possess his Kenyan passport at the time of his apprehension.
The exact whereabouts of the crypto tycoon following his escape remain shrouded in mystery, with reports indicating that he potentially utilized a Middle Eastern airline to depart Nigeria. Despite intensive efforts to trace his movements, authorities remain uncertain about his final destination.
The Kenyan executive’s troubles began when he was arrested on February 26 on suspicion of orchestrating the transfer of a staggering Ksh3.6 trillion (approximately USD 26 billion) in suspicious funds. At the time of his arrest, he served as the African regional executive of the cryptocurrency company, adding further intrigue to the unfolding saga.
Following his apprehension, a Nigerian court, in response to the Economic and Financial Crimes Commission’s (EFCC) petition, granted permission for the suspect’s continued detention for an additional 14 days to facilitate ongoing investigations. Subsequent developments revealed that during this extended period of detention, the Kenyan national was afforded accommodation in a comfortable guest house, affording him certain privileges.
It has come to light that during his stay at the guest house, the suspect enjoyed unrestricted access to a mobile phone, which is believed to have played a pivotal role in orchestrating his escape. This revelation has raised questions regarding the adequacy of security measures implemented by Nigerian authorities during the detainment of high-profile individuals.
As authorities intensify efforts to apprehend the fugitive, speculation abounds regarding the potential repercussions for both the individual and the broader cryptocurrency industry in Africa. The incident serves as a stark reminder of the challenges inherent in regulating the burgeoning digital currency sector amidst allegations of financial impropriety.
As the investigation unfolds, stakeholders eagerly await further developments in what has emerged as a gripping tale of intrigue and evasion on the African continent’s cryptocurrency frontier.