Pool Fixtures |Latest Jobs | Npower News

Read All Nigeria News , Latest News in Nigeria; Top breaking Naija News Latest from News Week Ng

Advertisements

President Tinubu bans binance operations in Nigeria

The Commission stated that Binance Nigeria Limited is neither registered nor regulated and its operations in Nigeria are therefore illegal.

0

Advertisements

President Tinubu bans binance operations in Nigeria

The President Bola Tinubu-led administration has slammed a ban on the operations of Binance Nigeria Limited.

 

This was disclosed in a circular by the Securities and Exchange Commission (the Commission).

 

Advertisements

The Commission stated that Binance Nigeria Limited is neither registered nor regulated and its operations in Nigeria are therefore illegal.

The circular reads: “The attention of the Securities and Exchange Commission (the Commission) has been drawn to the website operated by Binance Nigeria Limited, soliciting the Nigerian public to trade crypto assets on its various web and mobile-enabled platforms.

President Tinubu bans binance operations in Nigeria
Binance operations

 

“Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at his/her own risk.

 

Advertisements

“As the regulator with the statutory mandate of investor protection, the Commission urges Nigerians to be wary of investing in crypto-assets, and crypto-asset related financial products and services if the service provider/its platform is not registered or regulated by the Commission. Nigerian investors are hereby warned that investing in crypto-assets is extremely risky and may result in total loss of their investment.

“By this circular, Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever.

Advertisements

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Verified by MonsterInsights