The House of Representatives has taken a drastic step in response to allegations that Binance Holdings Limited, a cryptocurrency exchange platform, is taking advantage of the Naira and causing a free fall in its value. The committee has called for the arrest of top executives of the company.
The committee had originally summoned Binance executives to appear before them in a letter dated December 12, 2023. However, instead of the management team showing up, a team of lawyers was sent in their place. The lawyers were informed that their representation would not be accepted.
Senator Ihenyen, leading Binance’s legal team, explained that the executives did not appear before the committee due to recent arrests of two other executives upon their arrival in Nigeria by the Office of the National Security Adviser (ONSA). He stated that executives from outside the country were hesitant to come to Nigeria out of fear of being arrested as well.
The House of Representatives is determined to get to the bottom of these allegations and hold those responsible accountable for their actions. Stay tuned for further developments in this ongoing investigation.
