Nigerian House Of Reps Passes Resolution To Arrest Binance Platform Executives

The Nigerian National Assembly has agreed to issue warrants of arrest against executives of cryptocurrency platform, Binance.

This decision came after a resolution was passed to that effect by the House of Representatives Committee on Financial Crimes during a hearing on a petition brought against the crypto firm.

This lawmakers’ resolution is coming after Nigerian government had taken series of actions to clamp down on the operations of the giant cryptocurrency trading company.

It was reported on how Binance removed Nigerian currency, Naira from its peer-to-peer feature last Wednesday.

The feature, known as the P2P market, allows users, buyers, and sellers to transact without the intervention of a third party.

It became widely known among Nigerians in 2021 after former president Buhari’s administration banned crypto trading in the country.

A Special Adviser to President Bola Tinubu on Information & Strategy, Bayo Onanuga, had also said Binance, if not stopped would destroy the Nigerian economy because of the way it arbitrarily fixes foreign exchange rates.

It was also reported earlier that two employees of Binance were detained by the Nigerian security forces in Abuja on Monday night as part of an investigation into the cryptocurrency exchange’s operations in Nigeria.

CR: SaharaReporters

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