Binance ’s Chief Executive Officer (CEO) Changpeng Zhao has said that its self-acclaimed Nigerian subsidary, Binance Nigeria Limited is a “scammer entity”.
Confirming the illegal operations of the company in Nigeria via a tweet shared on Sunday, June 18, Zhao said they’ve issued a cease and desist notice to the scammer entity ‘Binance Nigeria Limited’.
This is coming barely one week after the Securities and Exchange Commission (SEC) declared the operations of Binance Nigeria Limited illegal in the country.
The SEC said the company which has been actively promoting its web and mobile-enabled platforms to Nigerians is neither subject to its regulations nor registered.