A Nigerian financial crimes committee has summoned Binance CEO Richard Teng on suspicions of money laundering and terrorism financing.
Ginger Onwusibe, chair of the House of Representatives Committee on Financial Crimes, issued an ultimatum for Teng to appear before the committee on or before March 5.
A failure to honor the ultimatum would compel the committee to take further action, Onwusibe said.
The Governor of the central bank had raised concerns about the world’s biggest crypto exchange on Feb. 27, flagging what it called suspicious movements of funds through the trading platform last year.
Teng has been summoned multiple times before, but not heeded the call, according to local media reports. Nigeria’s Securities and Exchange Commission made headlines in June last year by declaring the exchange’s operations illegal,
And in a Dec. 12 letter, the committee summoned a Binance managing director for a hearing to be held six days later, without show.