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International Business Times

Business

Marvie Basilan

Nigerian House Committee Summons Binance CEO Over Alleged 'Suspicious Flows' On Exchange

Binance Nigeria Changpeng Zhao Richard Teng Bayo Onanuga Crypto SEC

Binance Nigeria has been accused of facilitating untraceable funds amounting to $26 billion in 2023. (Credit: AFP)

KEY POINTS

The committee's chair said in the summons announcement that 'the era of exploitation is over'
Committee chair Onwusibe reportedly warned of taking measures against Binance if it fails to appear this time
Binance Nigeria was accused by the central bank governor of funneling $26 billion in undetectable funds in 2023

The Nigerian House of Representatives Committee on Financial Crimes has summoned Binance CEO Richard Teng over alleged "suspicious flows" on the world's largest cryptocurrency exchange by trading volume.

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