Nigeria’s House of Representatives Committee on Financial Crimes has called upon Richard Teng, the Chief Executive of Binance Holding Limited, to appear before them regarding suspicions of involvement in terrorism financing and money laundering.

Ginger Onwusibe, the Chairman of the Committee, issued a notice during a panel discussion on Friday requesting the presence of Binance Holdings LTD. management before the committee by March 4, 2024. A seven-day deadline has been set for their response.

The Central Bank of Nigeria has raised concerns about Binance, an online platform facilitating cryptocurrency trading, for potential connections to money laundering and other illicit activities.

Onwusibe emphasized that should Binance Holdings fail to comply with the summons, the committee may need to utilize constitutional authorities to enforce necessary actions.

Credit: Imran Muhammad/X