Nigeria Issues Summons to Binance CEO
The House of Representatives Committee on Financial Crimes in Nigeria has summoned Binance CEO Richard Teng to address allegations of terrorism financing and money laundering.
This ultimatum was issued on March 1 and the committee has given Binance until March 4, 2024 to comply.
The Central Bank of Nigeria (CBN) raised concerns on February 27 about Binance’s activities, claiming that there were suspicious fund transfers taking place through the exchange in the year 2023.
Committee chair Ginger Onwusibe has warned that failure to appear before the committee will result in necessary legal action being taken.
A letter dated December 12, 2023 was sent to Teng, requesting his presence at a hearing on December 18, 2023. Onwusibe expressed disappointment at Teng’s failure to attend previous invitations and emphasized that this issue pertains to violating laws governing business and financial operations in Nigeria.
