A Nigerian lawmaker has accused Binance of breaking the law, according to a report by Punch newspaper.
The Punch report quotes Ginger Onwusibe, the chairman of the Nigerian House of Representatives Financial Crimes Commission. proverb that the country’s constitution gives lawmakers the power to “protect Nigerians from financial crimes, especially by foreign companies.”
“We must also protect and defend the country’s finances, especially as the country enters a recession. The accusations of terrorist financing, money laundering and tax evasion, among other things, against Binance are damning enough.
At this important time, we need all the taxpayers’ money and we must block the leaks and channels of terror financing.
It is also our duty to do everything in our power to protect Nigerian investors from predatory companies, and no amount of distraction and manipulation can stop us.”
The report further quotes the chairman of the Financial Crimes Commission as saying that Binance has millions of customers in Africa’s most populous country.
“You cannot run a business with over 10 million Nigerians on your platform without paying taxes and having a physical office where Nigerians can lodge their complaints if they encounter any issues with your services. The era of exploitation is over and all those responsible must be held accountable.”
A BBC report last week revealed that the Nigerian government had fined Binance $10 billion over allegations related to exchange rate manipulation.
However, a day later, Bayo Onanuga, special advisor to Nigerian President Bola Tinubu, told the Peoples Gazette, a local online news outlet, that a fine on the crypto exchange had not yet been finalized.
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