Reps committee recommends arrest of Binance CEO
A House of Representatives Committee on Financial Crimes has suggested that Binance Holding Ltd’s CEO be arrested in connection with allegations of tax evasion and money laundering in Nigeria.
This occurred following the adoption of a motion made by Representative Isah Dogonyaro (APC-Jigawa state) during a public hearing on Monday, March 4.
Dogonyaro said that the committee had previously invited Binance’s CEO to appear and answer questions about terrorism, tax evasion, and money laundering against the company, but he had declined. This was during the hearing on a petition filed by the Empowerment Fund for Nigerian Youth Initiative and the Niger Delta Youth Council of Nigeria regarding various crimes that the company was accused of committing.
He added that they gave him another opportunity.
He said they are ready to provide more answers in writing if the need arises in the cause of the hearing. Ihenyen also said the company is concerned over the safety of its officials in Nigeria following the recent arrest of two senior officials of the company.
Reacting to this, the Chairman of the committee, Rep. Ginger Obinna (LP-Abia) said they’ve taken a position not to entertain legal representation from Binance. He said the leadership of Binance should be arrested and brought to the committee to answer questions about the grave allegations levelled against it.
Obinna said;
“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 on terrorism, money laundering and other financial crimes as stated in the petition including evasion of tax.”