By Oghenedoro Obrogor 

The House of Representatives has been advised to evoke its powers to subpoena and arrest top executives of Binance Holdings Limited following their failure to appear for the public hearing organised by the Committee on Financial Crimes.

The company is facing a series of allegations including terrorism financing, money laundering, tax invasion and other crimes.

At the public hearing, Chairman, House Committee on Financial Crimes, Obinna Ginger lamented the non-appearance of the Chief Executive of Binance Holding Limited, Richard Teng, after many invitations.

Binance Holdings Limited, operators of Digital Assets Exchange in Nigeria has been operating in Nigeria for over six years allegedly without adhering to the nation’s financial regulatory frameworks as well as facing allegations of financial exploitation of young Nigerians.