{"id":273388,"date":"2023-06-10T09:17:28","date_gmt":"2023-06-10T08:17:28","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=273388"},"modified":"2023-06-10T09:17:28","modified_gmt":"2023-06-10T08:17:28","slug":"just-in-fg-bans-binance-operation-in-nigeria","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2023\/06\/10\/just-in-fg-bans-binance-operation-in-nigeria\/","title":{"rendered":"JUST-IN: FG Bans Binance Operation In Nigeria"},"content":{"rendered":"<p>A restriction on Binance Nigeria Limited&#8217;s operations has been harshly criticised by the government, which is led by President Bola Tinubu.<\/p>\n<p>The Securities and Exchange Commission (the Commission) issued a circular in which it announced the ban.<\/p>\n<p>The Commission declared that because <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/10\/07\/crypto-scammers-steal-100m-from-binance\/\">Binance Nigeria Limited<\/a> is neither registered or subject to regulation, its operations in Nigeria are unlawful.<\/p>\n<p>The circular reads: \u201cThe 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.<\/p>\n<p>\u201cBinance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal. Any member of the investing public dealing with the entity is doing so at his\/her own risk.<\/p>\n<p>\u201cAs the regulator with the statutory mandate of investor protection, the Commission urges Nigerians to be wary of investing in crypto-assets, and crypto-asset related financial products and services if the service provider\/its platform is not registered or regulated by the Commission. Nigerian investors are hereby warned that investing in crypto-assets is extremely risky and may result in total loss of their investment.<\/p>\n<p>\u201cBy this circular, Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever.<\/p>\n<p>\u201cThe 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.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A restriction on Binance Nigeria Limited&#8217;s operations has been harshly criticised by the government, which is led by President Bola Tinubu. The Securities and Exchange Commission (the Commission) issued a circular in which it announced the ban. The Commission declared that because Binance Nigeria Limited is neither registered or subject to regulation, its operations in [&hellip;]<\/p>\n","protected":false},"author":43,"featured_media":273389,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[5,2],"tags":[65906,65903,33272,65905,303,65907,65904,65361],"class_list":["post-273388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-national","tag-binance-nigeria-limited","tag-binance-operation","tag-commission","tag-exchange-commission","tag-nigeria","tag-nigerian-investors","tag-securities","tag-tinubu-govt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JUST-IN: FG Bans Binance Operation In Nigeria<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2023\/06\/10\/just-in-fg-bans-binance-operation-in-nigeria\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JUST-IN: FG Bans Binance Operation In Nigeria\" \/>\n<meta property=\"og:description\" content=\"A restriction on Binance Nigeria Limited&#039;s operations has been harshly criticised by the government, which is led by President Bola Tinubu. The Securities\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2023\/06\/10\/just-in-fg-bans-binance-operation-in-nigeria\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-10T08:17:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2023\/06\/abdullah\/2023\/06\/10\/Binance_Logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"314\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"W.N YEMI\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@withinnigeria\" \/>\n<meta name=\"twitter:site\" content=\"@withinnigeria\" 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