Binance CEO has been summoned by the Nigerian House of Representatives for reported involvement in financing terrorism and laundering money.
On Friday, Ginger Onwusibe who serves as the chairman of the House Committee on Financial Crimes gave a seven-day ultimatum to the management of the firm. They were required to appear before March 4th, 2024 at his panel.
Onwusibe cautioned that should Mr Teng disregard the summons, the committee would resort to utilizing its constitutional authority and implement necessary actions. On top of this, he lamented over his absence during previous invitations.
Amidst the ongoing crackdown by Nigerian authorities on Binance due to the Naira crisis, there has been a recent development.
Two Binance executives were reportedly arrested by the government last week, subsequent to its limitations on Nigerian cyberspace.
Binance faces a $10 billion fine from the federal government, as announced on Friday.
It should be remembered that over the past twelve months, the governor of Nigeria’s Central Bank disclosed that Binance, a cryptocurrency platform, was utilized to channel more than $26 billion.
On Friday, as per FMDQ data, Naira rose to N1,548.25 for each USD…[CONTINUE READING HERE]>>
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