The Chief Executive of Binance Holding Limited, Richard Teng, has been called upon by the House of Representatives Committee on Financial Crimes regarding suspicions of involvement in terrorism financing and money laundering.
At a panel discussion on Friday, Ginger Onwusibe, the Chairman of the Committee, issued a notice to the management of Binance Holdings LTD., requesting their presence before the committee by March 4, 2024, with a seven-day deadline in place for their response.
The Central Bank of Nigeria has pinpointed Binance, an online platform facilitating the trading of cryptocurrencies, for potential connection to money laundering and other concerning activities.
However, Onwusibe cautioned that the committee may need to utilize the constitutional authorities granted to them in order to implement necessary actions should Binance Holdings disregard the summons.