Reps To Conclude Investigation Of Terrorism Financing

House of Representatives Committee on Financial Crimes is set to evoke its constitutional powers against Binance Holdings Limited if she fails to appear to its public hearing to respond to series of allegations of crime and infractions against Nigerians and total disregard for extant laws governing business and financial operations in the country.

Binance Holdings Limited, operators of Digital Assets Exchange in Nigeria has been operating in Nigeria over 6 years allegedly without any adherence to financial regulatory frameworks and has been accused of exploiting Nigerians and committing other financial crimes.

Recall that a coalition of civil society organizations led by the Niger Delta Youth Council Worldwide and the Empowerment for Unemployed Youths against Binance Holdings Limited had petitioned the Committee to scrutinize the firm’s activities.

Speaking during the public hearing, the committee chairman, Ginger Onwusibe, decried the refusal of the Chief Executive of Binance Holding limited, Richard Teng to appear after series of invitations.

The Committee had summoned the Managing Director of Binance, Richard Teng in a letter dated 12th December, 2023 and signed by its chairman, Hon. Ginger Onwusibe requesting a hearing on the 18th of December, 2023.