Binance is in hot water in Nigeria in the aftermath of its settlement with the U.S. Department of Justice (DOJ). Nigeria’s House of Representatives Committee on Financial Crimes issued an ultimatum to Binance CEO Richard Teng on Friday, according to a local news report.
Ginger Onwusibe, the chairman of the committee, has asked Teng to appear before the committee by March 4. The summons was issued over its alleged involvement in financial crimes, including money laundering and terrorism financing.
Onwusibe warned that Teng’s failure to answer the summons would force the committee to invoke its constitutional powers and take appropriate steps.
In its U.S. plea deal, which received the judge’s approval last week, Binance pled guilty to money laundering and terrorism financing. The exchange also agreed to pay a historic fine of $4.3 billion and operate with monitoring as part of its settlement.
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