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In a statement, the regulator stressed that the largest cryptocurrency exchange’s lack of license makes its activities illegal and ordered Binance Nigeria Limited to “immediately stop attracting Nigerian investors in any form.”
Binance representatives commented on the document. They said they were aware of the ban, but the company mentioned in the regulator’s order is not connected with the global exchange.
“We are trying to get clarity from the Nigerian SEC and intend to work with the regulator to resolve the issue,” a Binance spokesperson said in a Telegram messenger.
Note that more than 64,000 people are subscribed to Binance Nigeria’s Telegram channel.
Earlier, it was reported that the SEC of Nigeria is developing a pilot program for the circulation of tokenized assets tied to the value of real financial instruments.