Nigeria’s House of Representatives Committee on Financial Crimes has summoned the Chief Executive of Binance Holding Limited, Richard Teng, over alleged involvement in terrorism financing and money laundering.
Chairman of the Committee, Ginger Onwusibe, issued a seven-day ultimatum to the management of Binance Holdings Ltd to appear before it on or before March 4, 2024.
The resolution followed the Central Bank of Nigeria’s decision to flag the online exchange where users deal in cryptocurrency for alleged involvement in money laundering and other fraudulent financial activities
The Committee Chairman decried the refusal of the Chief Executive of Binance Holding Limited to honour previous invitations by the House of Representatives to brief the Committee relating to the total disregard for extant laws governing business and financial operations in the country.
Onwusibe, in his summon, warned that the Committee would be forced to invoke its constitutional powers to take appropriate measures if Binance Holdings fails to appear on the set date
The Committee pledged its commitment to protect and defend the country’s finances in the face of worsening economic crisis
(Editor: Nkoli Omhoudu)
