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Changpeng Zhao, the Chief Executive Officer of Binance, on Sunday, declared Nigeris’s subsidiary of the global cryptocurrency exchange platform as a scam.

Binance CEO made this known via his verified Twitter handle, saying “Binance Nigeria Limited a scam entity.”

“Binance has issued cease & desist notice to the scammer entity “Binance Nigeria Limited”. Don’t believe everything you read in the news.”

It could be recalled that the Securities and Exchange Commission of Nigeria had declared that Binance Nigeria is operating illegally in the country, saying it is not registered or regulated by the SEC.

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