The House of Representatives Committee of Financial Crimes has resolved to recommend that the House invokes its powers to subpoena and arrest executives of Binance.
This followed the failure of executives of the company to appear in an investigation hearing by the Committee on Monday, March 4.
Chairman of the Committee, Hon Ginger Obinna Onwusibe, said the executives of the company were to appear before them to answer questions on a petition that borders on the financing of terrorism, money laundering, tax evasion, and other financial crimes.
Mr Onwusibe frowned at the legal representation sent by the company for the hearing.
He said at the last session it was resolved that the officials must appear by themselves.
But the lawyer representing Binance, Senator Ihenyen, said among other reasons executives of the company which is not based in the country were apprehensive because two of their executives were arrested recently and are still in custody.
Hon Obinna said: “Binance is not here. We have taken a position on it in our last sitting that we are not going to entertain legal representation from Binance and that position stands.
