.Why our boss cannot come to Nigeria –Mgt
The House of Representatives Committee on Financial Crimes on Monday recommended the arrest of the Chief Executive Officer of Binance Holding Ltd over alleged tax invasion and money laundering in Nigeria.
The recommendation followed a motion by Rep. Isah Dogonyaro (APC- Jigawa state) at a public hearing in Abuja.
The hearing was on a petition by Empowerment Fund for Nigerian Youth Initiative and the Niger Delta Youth Council of Nigeria on several crimes allegedly committed by Bianance.
Binance is an online financial company, operating in the cyberspace of Nigeria for over six years with no fewer than 20 million Nigerians on the platform.
However moving the motion, Dogonyaro said that the committee earlier invited the CEO of Binance to appear and respond to questions on terrorism, tax invasion and money laundering against the company but failed to appear.
According to him, the committee gave another chance to enable the Bianance executive appear on March 4 but have refused appear again.
He said his refusal to appear is an insult on the committee and on the Nigerian people.
Responding, the Lawyer to Bianance, Mr Senator Ihenyen said that the company had responded in writing to all the allegations leveled against it.
He said that Binance was also ready to provide more answers in writing if the need arises in the cause of the hearing.
Ihenyen, however, said that the company was concerned over the safety it’s officials in Nigeria following the recent arrest of two senior officials of the company.
He said that two top officials of the company who came to Nigeria were arrested by the Office of the National Security Adviser.
In his ruling, Chairman of the committee, Rep. Ginger Obinna (LP-Abia) said that the committee had taken a position during its last sitting not to entertain legal representation from Binance.
According to him, the leadership of Binance should be arrested and be brought to the committee to answer questions of the grave allegations leveled against the company in a petition brought to the committee.
“This committee has resolved to recommend to the house to invoke its constituonal powers by issuing a subpoena and a warrant for Binance executives to be arrested and brought to this committee to answer these questions on terrorism, money laundering and other financial crimes as stated in the petition including evasion of tax,” he said.
He thanked the petitioners for unearthing the grievous financial crimes and the exploitation of 20 million young Nigerians in the last six years.
