Home » CZ speaks on Nigeria’s recent ban on ‘Binance’

CZ speaks on Nigeria’s recent ban on ‘Binance’

by Samson Echenim
Nigeria bans Binance

More than a week after the Nigerian government said it had banned “Binance Nigeria Limited,” calling it an illegal company, the CEO and founder of Binance, Changpeng Zhao, has declared that “Binance Nigeria Limited” is a fraud entity, not affiliated with Binance.

CZ declared this via his verified Twitter handle on Sunday.

Zhao described the purported Nigerian crypto exchange platform subsidiary as “a scam entity,” and advised people not to believe everything they read.”

He, however, noted that the company had issued a cease & desist notice to the scammer entity “Binance Nigeria Limited”.

The Nigeria Securities and Exchange Commission (SEC Nigeria) recently declared Binance Nigeria Limited’s operation in the country illegal.

Binance Nigeria Limited, according to the commission, is neither registered nor regulated by the commission, and its operations in Nigeria are illegal, noting that any member of the investing public dealing with the entity does so at his/her own risk.

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