Abuja, March 4, 2024 – The House of Representatives Committee of Financial Crimes has decided to recommend that the House invokes its powers to subpoena and arrest executives of Binance.
This committee announced the decision on Monday following the failure of executives of Binance to appear before it on Monday for an investigation.
Binance executives were to appear before the committee over petitions bordering on the terrorism financing, money laundering, tax evasion and other financial crimes.
Ginger Obinna Onwusibe, the Committee Chairman, frowned at the legal representation sent by the company to the hearing.
“Binance is not here. We have taken a position on it in our last sitting that we are not going to entertain legal representation from Binance and that position stands.
“Based on the fact that Binance is not here, we need to make a recommendation to the House of Representatives for the House to invoke its powers of subpoena to issue a warrant for the leadership of Binance to be arrested and be brought to this Committee to answer questions of the grave allegations levelled against them in the petitions brought to us by the Empowerment for Unemployed Youths and Niger Delta youths Council.
“This Committee has resolved to recommend to the House to invoke its constitutional powers by issuing a subpoena and a warrant for Binance executives to be arrested and brought to this committee to answer these questions regarding relationship financing of terrorism, money laundering, and other financial crimes as stated in the petition including evasion of tax.
“We thank the petitioners for unearthing these grievous financial crimes going on in this country for more than six years now.
Binance has been operating in the financial space of this country for more than six years and they have not less than 20 million Nigerians that they are exploiting.” (GBN)
