House Of Reps To Issues Arrest Order For Binance Executives

The House of Representatives Committee has set to issue arrest warrants for executives of the cryptocurrency platform, Binance, following a hearing on a petition against the company on Monday.

It was gathered that the Committee on Financial Crimes made this decision following a resolution passed during a hearing on a petition against the crypto firm.

INFORMATION NIGERIA recalls that the company is facing a series of allegations including terrorism financing, money laundering, tax invasion and other crimes.

However, the Committee’s Chair, Obinna Ginger, declared that its would advocate for the arrest of Binance executives to the larger House.

Ginger added that the arrest warrant guarantees the executive’s appearance before the lawmakers.

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He said: “The committee will be forced to recommend to the House to arrest Binance executives since they have failed to appear before the committee.

“As long as the committee is concerned, Binance is not at this meeting because we have said severally that we do not want representation by lawyers but the chief executives should appear before us. Binance is not here. We have taken a position on it in our last sitting that we are not going to entertain legal representation from Binance and that position stands.

“Based on the fact that Binance is not here, we need to make a recommendation to the House of Representatives for the House to invoke its powers of subpoena to issue a warrant for the leadership of Binance to be arrested and be brought to this Committee to answer questions of the grave allegations levelled against them in the petitions brought to us by the Empowerment for Unemployed Youths Initiatives and Niger Delta youths Council.

“This Committee has resolved to recommend to the House to invoke its constitutional powers by issuing a subpoena and a warrant for Binance executives to be arrested and brought to this Committee to answer these questions regarding relationship financing of terrorism, money laundering and other financial crimes as stated in the petition including evasion of tax.