On suspicion of money laundering and terrorism financing, the House of Representatives of Nigeria's Committee on Financial Crimes has summoned the CEO of cryptocurrency exchange Binance, Richard Teng, for questioning.
As reported by local news agency Punch, he must appear before the agency no later than March 4, 2024.
According to the information provided, the chairman of the committee, Ginger Onwusibe, invited the Binance CEO for an interview on March 1. The text message said that if the CEO of the exchange ignores the invitation, the committee will use its constitutional powers and take necessary action.
Onwusibe had earlier condemned the refusal of Richard Tengah to appear in Nigeria after several invitations. He emphasized the committee's determination to fight financial crimes, believing that "the constitution of the country empowers the agency to protect Nigerians from financial misconduct, especially by foreign companies."
According to him, the country's economy is on the verge of recession and requires protection. Onwusibe added that all allegations of terrorism financing, #money laundering and tax evasion must be thoroughly investigated to ensure the safety and stability of Nigeria's financial system.
Binance, for its part, has not yet commented on the situation. The cryptocurrency exchange is one of the largest in the world and is actively developing its activities in various countries. However, the latest accusations and the summoning of the CEO for questioning may affect its reputation and operations in #Nigeria.
It should be noted that the regulation of cryptocurrencies and #crypto exchanges has become an increasingly hot topic for many countries, including Nigeria.
Authorities seek to control and oversee this market to prevent financial crimes and ensure safety for its citizens.
