The counsel for Binance, Senator Ihenyen, explained that the executive could not appear before the House of Representatives because they were in custody.

Ihenyen pleaded with the committee to give the company ample time to appear before it, noting that the Office of the National Security Adviser arrested two top shots of Binance who arrived in the country last week.

The House of Representatives, on Monday, called for the arrest of the top executives of Binance Holdings Limited, which is facing fraud allegations.

Binance, a cryptocurrency exchange platform, was accused of exploiting the Nigerian currency, Naira, leading to its free fall in value.

The company is also facing allegations of terrorism financing, money laundering, and tax invasion, among others.

The counsel for Binance said; “Following the arrest of two executives, other persons could not come into Nigeria because they were afraid of arrest too. Binance has responded appropriately to the demands of the committee and as our client, we are pleading that this honorable committee consider taking the report.”