Earlier today, Reuters and the People’s Gazette reported that Binance Nigeria limited had been banned in Nigeria.
According to the publication and in a press release signed by “management,” the Nigerian Securities and Exchange Commission (SEC) on June 9, 2023 said that “Binance Nigeria Limited” is not registered or regulated by them, making its operations in Nigeria illegal. Therefore, any individual investing with the company does so at their own risk.”
In an email response to TechCity, a Binance spokesperson said, “We are aware of the circular, however, the entity mentioned in the circular is not affiliated with us. We are therefore seeking clarity from the Nigerian SEC and remain committed to working with them cooperatively on the next steps.”
In both publications, the official Binance logo was used and the press releases refer to “Binance” as “soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.”
Allaying the fears of its users over the Gazette publication, Binance said, “most importamtly, we want to remind users that their assets on Binance are safe, accessible and secure. Our greatest priority will always be to deliver for our users.”
