The House of Representatives Committee on Financial Crimes has resolved to issue warrants of arrest against executives of the cryptocurrency platform, Binance.
The resolution was made on Monday during a hearing on a petition brought against the crypto firm.
Osun Defender reports that the federal government reportedly arrested two Binance executives over alleged money laundering and terror financing.
The Chairman of the Committee, Obinna Ginger, ruled that the Committee would recommend to the larger House that the executives of Binance be arrested.
He explained that the warrant of arrest is to ensure that the executive appears before the lawmakers.
Senator Ihenyen, the lawyer for Binance, appeared before the Committee on behalf of his client and presented a written address, however, the lawmakers rejected his representation.
Ihenyen said the board of the company is scared of coming to Nigeria for fear of further arrest by the government.
Kazeem Badmus is a graduate of Mass Communication with years of experience. A professional in journalism and media writing, Kazeem prioritses accuracy and factual reportage of issues. He is also a dexterous finder of the truth with conscious delivery of unbiased and development oriented stories.
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