The Nigerian House of Representatives questioned Binance CEO Changpeng Zhao on suspicions of terrorism financing and money laundering.
According to a Dailypost report, House Committee Chairman Ginger Onwusibe has issued Zhao a 7-day deadline to come before the committee by March 4th, 2024 or face appropriate consequences.
Onwusibe criticized Zhao’s failure to present for earlier invites, stating that the committee must protect and defend the country’s money, particularly as Nigeria enters a recession. He called the allegations against Binance “damning” and stated that all tax dollars are required to restrict terrorist financing conduits.
Onwusibe also stated that Binance cannot operate in Nigeria with over 10 million users without paying taxes or having a physical presence for complaints. He stated that the period of exploitation has come to an end, and that all perpetrators will face consequences.
This summons comes as the Nigerian government clamps down on Binance because to the Naira crisis. Two Binance officials were reportedly arrested last week following restrictions on the platform. The authorities also recently denied imposing a $10 billion charge on Binance, claiming that more over $26 billion was trafficked via it last year.
The Naira strengthened against the dollar on Friday, raising hopes for an end to the continuing financial upheaval.
