Binance Nigeria Limited is not registered with or regulated by the Commission, making its operations in Nigeria unlawful. Any member of the investing public who transacts with the company does so at his or her own risk.
The Commission, as the regulator with the statutory responsibility of investor protection, cautions Nigerians from investing in crypto-assets and crypto-asset-related financial goods and services if the service provider/its platform is not registered or regulated by the Commission. Nigerian investors are cautioned that investing in cryptocurrency is exceedingly risky and may result in a total loss of their investment.
By this circular, Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever.
The Commission shall provide updates on further regulatory actions with respect to the activities of Binance Nigeria Limited, and other similar platforms and shall work with other regulators in Nigeria to provide further guidance on this matter.
Signed
Management
June 09, 2023.