ADVERTISEMENT

Nigerian lawmakers feel insulted because Binance CEO refuses to appear before them

The lawmakers refuse to entertain legal representation from Binance.

Binance CEO, Changpeng Zhao [Ben McShane/Sportsfile for Web Summit via Getty Images]

The recommendation followed a motion by Rep. Isah Dogonyaro (APC- Jigawa State) at a public hearing on Monday in Abuja.

The hearing was on a petition by Empowerment Fund for Nigerian Youth Initiative and the Niger Delta Youth Council of Nigeria on several crimes allegedly committed by Binance.

Binance is an online financial company, operating in the cyber space of Nigeria for more than six years with not less than 20 million Nigerians on the platform.

ADVERTISEMENT

Moving the motion, Dogonyaro said the committee earlier invited the CEO of Binance to appear and respond to questions on terrorism, tax invasion and money laundering against the company but failed to appear. He said that the committee gave another chance to enable the Binance executive appear on March 4, 2024 but have refused appear again.

According to him, the refusal to appear is an insult on this committee and on the Nigerian people. In his response, the Legal Council to Binance, Senator Ihenyen, said the company had responded in writing to all the allegations leveled against the company.

He said the company was also ready to provide more answers in writing if the need arises in the cause of the hearing. Ihenyen, however, explained that the company was concerned over the safety its officials in Nigeria following the recent arrest of two senior officials of the company.

The counsel explained that two top officials of the company who came to Nigeria were arrested by the office of the National Security Adviser.

In his ruling, the Chairman of the committee, Rep. Ginger Obinna (LP-Abia), said the committee had taken a position on its last sitting not to entertain legal representation from Binance.

ADVERTISEMENT

He said the leadership of Binance should be arrested and be brought to the committee to answer questions of the grave allegations leveled against the company in a petition brought to the committee.

"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," he said.

The chairman thanked the petitioners for unearthing the grievous financial crimes and the exploitation of 20 million young Nigerians in the last six years.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Barefooted man and woman cuddle throughout 4-hour flight — people are angry about it

Barefooted man and woman cuddle throughout 4-hour flight — people are angry about it

You had me at 20 years old - Sowore pays tribute to his mum on 73rd birthday

You had me at 20 years old - Sowore pays tribute to his mum on 73rd birthday

Police arrest 20 suspected Yoruba nation agitators for invading Oyo Assembly complex

Police arrest 20 suspected Yoruba nation agitators for invading Oyo Assembly complex

Minister assures northerners that Tinubu has their best interests in mind

Minister assures northerners that Tinubu has their best interests in mind

Gunmen attack Benue APC guber aspirant, abduct wife, maid

Gunmen attack Benue APC guber aspirant, abduct wife, maid

My govt has come to break the chains that have held Rivers behind - Fubara

My govt has come to break the chains that have held Rivers behind - Fubara

23 inmates bag university degrees at Enugu Custodial Centre

23 inmates bag university degrees at Enugu Custodial Centre

Police arrest officer who threatened civilians with AK-47 in viral video

Police arrest officer who threatened civilians with AK-47 in viral video

FG says only banks will issue new national ID card to applicants

FG says only banks will issue new national ID card to applicants

Pulse Sports

Alex Iwobi makes Premier League history which Mikel, Yakubu, Kanu could not achieve

Alex Iwobi makes Premier League history which Mikel, Yakubu, Kanu could not achieve

Like Michael Jordan - Details of Victor Osimhen’s ‘superhuman’ jump against Monza emerges

Like Michael Jordan - Details of Victor Osimhen’s ‘superhuman’ jump against Monza emerges

ADVERTISEMENT
ADVERTISEMENT