Politics
Breaking: House Committee On Financial Crimes Takes Firm Action Against Binance-Lawyers Over Cryptocurrency Probe (Full Details)
The House of Representatives Committee on Financial Crimes dismisses Udo Udoma and Belo-Osagie lawyers over misleading conduct related to a cryptocurrency exchange company facing legal scrutiny…..CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

Following a petition by Empowerment for Unemployed Youths Initiative and Niger-Delta Youth Council against Binance Holdings Limited, the Committee summoned Binance’s Managing Director, Richard Teng, for a hearing on December 18, 2023.
Lawyers from Udo Udoma and Belo-Osagie, appearing on behalf of Binance, faced criticism from the Committee for their presence, deemed unprofessional and disrespectful. The Committee walks them out and directs the company to appear on a rescheduled date.
Expressing disappointment, the National Assembly condemns the lawyers’ conduct, accusing them of siding with an illegal entity. The group emphasizes the need for Binance to explain its operations in Nigeria and warns against disrespecting the nation’s laws.
Empowerment for Unemployed Youth Initiative and Niger Delta Youth Council caution Richard Teng and Binance against acts that may lead to InterPol warrants and asset freezing. They stress the seriousness of crimes like money laundering and securities fraud.
The groups advise Nigerians to steer clear of Binance.com, citing violations of the Money Laundering Act, Securities and Exchange Commission regulations, and Federal Inland Revenue Service requirements in Nigeria.
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