Reps summons Binance CEO alleged over terrorism financing, money laundering

“It is also our duty to do everything in our power to
protect Nigerian investors from predatory firms, and no distraction and
manipulation can stop us.

“You cannot run a company with over 10 million Nigerians on
your platform without paying tax and having a physical office where Nigerians
can lodge their complaints when they experience any challenge with your
service. The era of exploitation is over, and all culprits must be held
accountable,” he added.

The Development comes amid the continued clampdown on
Binance by the Nigerian Government over the Naira crisis.

The government reportedly arrested two executives of Binance
last week following its restriction on Nigerian cyberspace.

On Friday, the federal government said it plans to impose a
$10 billion fine on Binance.

Recall that the Central Bank of Nigeria governor revealed
that more than $26 billion was funnelled through the cryptocurrency platform,
Binance in the last one year.

Meanwhile, Naira appreciated to N1,548.25 per USD, according
to FMDQ data on Friday.