Recently, information came that the Nigerian branch of Binance had been declared illegal by the securities and stock market regulator in the country.
However, according to the latest data, it has been revealed that this is not the Nigerian branch of Binance, but a company called "Binance Nigeria Limited" imitating Binance in the country.
Binance CEO CZ also confirmed this and said:
“Binance has issued a notice to the fraudulent organization called “Binance Nigeria Limited”.
Don't believe everything you read in the news."
Binance have issued cease & desist notice to the scammer entity "Binance Nigeria Limited".
Don't believe everything you read in the news. 🤷♂️
— CZ 🔶 Binance (@cz_binance) June 18, 2023
According to CZ, this company consists of scammers operating under the name Binance in Nigeria.
The news in question was made in major news sources such as Bloomberg that Binance was declared illegal in Nigeria. However, Nigeria's securities and stock market regulator also issued a warning for cryptocurrencies:
“Nigerian investors are warned that investing in crypto assets is extremely risky and could result in a complete loss of their investment.”
The Nigerian SEC said earlier this year that it is considering allowing tokenized money offerings on licensed digital exchanges that are backed by assets such as equity, debt, property, but are “non-crypto”.
*Not investment advice.
