LAGOS Nigeria (VOICE OF NAIJA) – The House of Representatives Committee on Financial Crimes has taken a decisive step in the ongoing investigation into Binance.
They are calling for the arrest of the company’s executives after they failed to appear for an investigative hearing at the National Assembly Complex on Monday, March 4.
The executives were summoned to address some allegations including financing terrorism, money laundering, tax evasion, and other financial crimes, following petitions submitted by the Empowerment for Unemployed Youths and Niger Delta Youths Council.
Expressing disappointment at the absence of Binance representatives, the Committee Chairman Hon Ginger Onwusibe emphasized the gravity of the allegations and the necessity for direct accountability from the company’s leadership.
Despite legal representation sent by Binance, the committee stood firm on its decision that the company officials must appear in person.
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In response, Binance’s legal counsel, Senator Ihenyen, cited concerns over the recent arrest and continued detention of two company executives in Nigeria, which had led to apprehension among the global leadership.
Ihenyen stressed that the situation had made it challenging to mobilize other executives to Nigeria, citing safety and security concerns.
The Committee, however, remained resolute in its stance, resolving to recommend to the House of Representatives the invocation of its powers to subpoena and arrest Binance executives.
Hon Onwusibe underscored the seriousness of the allegations and the need for thorough investigation, thanking the petitioners for bringing attention to the issue.
While acknowledging Binance’s written response to the petitions, the Committee emphasized the importance of direct engagement and accountability.
Despite the challenges faced by the company, the Committee maintained that the gravity of the allegations warranted the physical presence of Binance executives to address the concerns raised.
The call for the arrest of Binance executives marks a significant development in the investigation, highlighting the determination of the House of Representatives Committee on Financial Crimes to ensure transparency and accountability in financial transactions within the country