According to a Circular by the Commission dated June 09, 2023, any Nigerian trading on Binance Nigeria Limited, a subsidiary of the well-known global cryptocurrency exchange Binance, is doing so at his or her own risk.
According to the Circular, “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. Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal.
