The House of Representatives has called for the arrest of top executives of Binance Holdings Limited due to allegations that the cryptocurrency exchange platform is taking advantage of the Naira, the currency of Nigeria, causing a free fall in value.
However, a team of lawyers was dispatched in place of the company’s management team, which was supposed to testify before the House committee per legal requirement.
Binance Executives Held by ONSA
However, the lawyers were informed by the committee that their submissions would not be accepted.
Jerrymusa.com reports that in response, the legal team representing Binance, headed by Senator Ihenyen, whose representation was denied, stated that “two executives from Binance who were scheduled to appear before the committee were detained by the Office of the National Security Adviser, or ONSA, as soon as they arrived in Nigeria.”
“This explained why Binance executives did not appear before the committee.
“He claimed that, among other things, the fact that two of the company’s executives were recently arrested and were being held in custody worried the executives, who are not nationals.
“Following the arrest of two executives, other people could not come into Nigeria because they would have been arrested too.”