Following failure to appear for the public hearing organised by the panel of the House of Representatives‘ Financial Crimes Committee, the parliament has recommended the evoking of powers to arrest top executives of Binance Holdings Limited.
The company is facing series of allegations including terrorism financing, money laundering, tax invasion and other crimes at the committee‘s public hearing.
The chairman of the committee, Obinna Ginger, lamented the non-appearance of the chief executive of Binance Holding limited, Mr Richard Teng, after many invitations.
The committee had summoned Mr Teng in a letter dated 12th December, 2023 requesting him to appear at the hearing.
But the company failed to show up and sent legal representatives at the hearing, but the committee insisted on having interface with the executives of Binance Holding Limited.
Ginger said the committee will be forced to recommend to the House to arrest Binance executives since they have failed to appear before the Committee.
He said the committee has made its stand during its last sitting to no longer entertain legal representation from Binance.
The counsel to Binance, Senator Ihenyen who appeared for the company pleaded with the Committee to give the firm ample time to appear before it, noting that two top chiefs of Binance who arrived in the country last week were arrested by the Office of the National Security Adviser.
Ihenyen said following the arrest of the two executives, other persons could not come into Nigeria because they are afraid of arrest too.
He said Binance has responded appropriately to the demands of the committee and as our client, we are pleading that this honorable committee consider taking the report.