Binance Nigeria Limited is a Scam Entity- CZ

[Zaguru12]

Binance CEO Changpeng Zhao has announced that the global exchange has no affiliate with the company Binance Nigeria Limited parodying its self as a subsidiary of the Exchange. CZ made this statement on his official twitter handle the entity has a scam entity that should be desist from.



If we could recall just last week the Nigerian Security Exchange Commission had warn of the illegal running of the entity Due to lack of registration and not been regulated. Now The CEO of the global exchange himself has come to tell people to avoid the entity and not believe everything they read online.

According to Nairametrics the entity was registered on 9th of December 2019 on Corporate Affairs Limited (CAC) number “1639782” and MABUSHI DISTRICT as the physical address. A search on the CAC website shows that the company under which it was claimed to have registered on has no record with CAC, and it also doesn’t have any social media handles.


The only recognized binance subsidiary in Africa is the Binance Africa which has a twitter and instagram handle. It is fair to say that this is the only recognized entity of Binance in Africa according to CZ

[Charles-Tim]

We have an existing thread about this: Nigeria SEC tag binance operations illegal

And this (last post on the first page) has been discussed there since yesterday.

You even created the thread.

Best to lock this thread and let us continue to discuss about the matter on your initial thread.

Never see this as an attack or criticism, but a way we are working towards having a quality local board.

[Hyphen(-)]

Now who to believe is it CZ or the Nigerian Security Exchange Commission SEC.

Now that the CEO of Binance have denied Binance Nigeria Limited as part of it affiliate partners, what should be the way forward?
Can this lead to termination of Binance exchange services in Nigeria since the company Binance Nigeria Limited claiming to place the regulation in collaboration to SEC has been denied by Binance Itself?

[Charles-Tim]

Now that the CEO of Binance have denied Binance Nigeria Limited as part of it affiliate partners, what should be the way forward?

Not denied, but the truth if Binance Nigeria remain mute and can not provide any evidence.

The way forward is to make all exchanges that Nigerians are using to have office in Nigeria compulsorily, they should block their service as they block Twitter last year or last 2 years or so.

Can this lead to termination of Binance exchange services in Nigeria since the company Binance Nigeria Limited claiming to place the regulation in collaboration to SEC has been denied by Binance Itself?

Binance is looking forward to cooperate with Nigeria SEC and comply with regulatory laws according to what I read about it yesterday. Even Binance do not have any option than to comply with the regulations. But SEC and other regulatory bodies concerning cryptocurrencies may not know their work and doing it poorly. Not only Binance, but other exchanges like Bybit, Kucoin, OKX, Huobi global and many others are used by Nigerians and the exchanges are making money from us, all of them have to be registered in Nigeria just like how banks like GTBbank, First bank, Zenith and other banks are registered in Nigeria. If they can not comply, the can block Nigerians to access the exchanges. What the exchanges are looking towards are profit, they will not want to lose providing their services to Nigerians.

[RockBell]

What is going on behind the scenes if CZ claims he is not in collaboration with the company then who owns and runs the Binance Nigeria? How hilarious so CZ is trying to claim that Binance Nigeria impersonation. The whole situation is confusing, and if it is true that CZ don't have any collaboration then it is very risky to do any transactions there and that is why I always avoid keeping my money in any form of exchange because it is always risky.

[Zaguru12]

We have an existing thread about this: Nigeria SEC tag binance operations illegal

And this (last post on the first page) has been discussed there since yesterday.

You even created the thread.

Best to lock this thread and let us continue to discuss about the matter on your initial thread.

Never see this as an attack or criticism, but a way we are working towards having a quality local board.

Oops  I actually did went through the forum to see maybe someone had dropped it here. Although it was yesterday’s news I only went on twitter today to see it.

Thanks for the heads up boss and also for your continuous support and effort both to me and the local board

Locking it right away