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Reps Committee Recommends Arrest Of Binance CEO
A House of Representatives Committee on Financial Crimes has recommended that Binance Holding Ltd’s Chief Executive Officer be arrested for alleged tax evasion and money laundering in Nigeria.
This came after Rep. Isah Dogonyaro (APC- Jigawa state)’s motion during a public hearing in Abuja on Monday, March 4, was adopted.
At a hearing on a petition filed by the Empowerment Fund for Nigerian Youth Initiative and the Niger Delta Youth Council of Nigeria alleging that Binance committed several crimes, Dogonyaro stated 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 did not.
He further stated that they offered him another chance to come before the panel on March 4, 2024, but he rejected it. Dogonyaro also called it an insult to the committee and the Nigerian people.
However, Binance’s Legal Counsel, Mr Senator Ihenyen, stated that the business had responded in writing to all of the claims brought against it.
He stated that they are prepared to offer more written answers if necessary throughout the course of the hearing. Ihenyen also expressed concern about the safety of the company’s officials in Nigeria, given the recent arrest of two top officials.
In response to this, the committee’s Chairman, Rep. Ginger Obinna (LP-Abia), stated that they will not entertain legal representation from Binance. He said Binance’s leadership should be detained and brought before the committee to answer questions about the serious allegations levied 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.”
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