Nigerian committee summons Binance CEO on financial crime suspicion

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The chairman of the Committee, Ginger Onwusibe, warned that if Binance ignores the summons, the committee will exercise its constitutional authority for necessary actions.

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

According to a local news outlet, The Punch, The chairman of the Committee, Ginger Onwusibe, on Friday, March. 1, at a panel, issued a seven-day ultimatum to the management of Binance Holdings LTD. to appear before the committee on or before March 4, 2024.

The governor of the Central Bank of Nigeria (CBN) raised concerns on Feb. 27 about Binance, an online cryptocurrency exchange, alleging “suspicious flows” of funds through the exchange in 2023.

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