Advertisement
News

Binance operations illegal in Nigeria — SEC

The Securities and Exchange Commission (SEC) of Nigeria has issued a firm statement, explicitly stating that Binance Nigeria is not registered or regulated by the SEC.

This declaration deems the operations of the popular global cryptocurrency exchange, Binance, within Nigeria as illegal.

In an official statement published on its website, the SEC highlighted that Binance Nigeria Limited, a subsidiary of Binance, has been actively promoting its web and mobile-enabled platforms to the Nigerian public.

However, the regulatory body firmly asserted that such activities are in direct violation of Nigerian law.

The SEC has strongly advised Nigerians to exercise caution and refrain from engaging with unregistered and unregulated platforms, specifically mentioning Binance Nigeria as one such platform to avoid.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button