Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,427 members, 7,815,963 topics. Date: Thursday, 02 May 2024 at 10:19 PM

SEC Bans Binance Nigeria Limited: It Is An Illegal Entity - Investment (4) - Nairaland

Nairaland Forum / Nairaland / General / Investment / SEC Bans Binance Nigeria Limited: It Is An Illegal Entity (28321 Views)

P2P Binance Nigeria Exchange Group On Telegram Are Scammers / Loom Money Nigeria: Crash Of Ponzi Scheme Imminent As SEC Warns Nigerians / ‎Avoid Ponzi Schemes! SEC Warns Nigerians (2) (3) (4)

(1) (2) (3) (4) (5) (6) (Reply) (Go Down)

Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Finestgurlie(f): 12:34pm On Jun 10, 2023
Segzy19:
If he no fail, make you fail am ..
Oponu!



orunneyi
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Finestgurlie(f): 12:34pm On Jun 10, 2023
Omoawoke:


We know your type, sniffing around for bad news to celebrate. And you were so in a haste to rush in to the thread and spit your venom of hatred you didn’t read to understand the content
What you wish is what you will attract, better desist before evil luck locate you
orunneyi
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Finestgurlie(f): 12:34pm On Jun 10, 2023
Bluntemperor:


Nonsense!
So,if God decided to use Moses to liberate the Israel, from the same Egyptian yard,where he grew up,na you go query God,abi?
Una go stay inside that potopoto long time,you better change your polluted thinking,Nigeria has since moved forward!
e pain am ooo
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Tom1960: 12:35pm On Jun 10, 2023
Nigerians won't listen, until MMM, MBA, etc happens to them.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Manna4Gurls: 12:39pm On Jun 10, 2023
9jagovernor:
They're not referring to Finance as a whole but a company that name itself binance Nigeria

“Binance Nigeria Limited is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal.


So to say, Binance trade is not operational in Nigeria. Other countries somehow didn't adopt Binance or Crypto
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Deeprooted: 12:40pm On Jun 10, 2023
Antell95:
PLEASE someone help me with a laptop. please!

You will need to change the battery,the keyboard, the screen, get a charger and motherboard.

Quote me if you're interested
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by headboyprince(m): 12:40pm On Jun 10, 2023
Omoawoke:


Tell us what buhari achieved in his first six month
you see what i said....Nigerians too quick to forget-----https://www.nairaland.com/2578549/8-key-achievements-president-buhari/1
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Slynation(m): 12:41pm On Jun 10, 2023
GENES11S:


There is no big opportunity there that is worth the damage it's causing the country.

This isn't about politics, am giving it to you as it is. Crypto trading that doesn't obey Nigeria monetary policy is harmful to the countries economy.
Crypto has made more people millionaire while the Nigeria economy has drove many into pepertual poverty...

So why should an ordinary citizen be bordered about the monetary policy when those in charge doesn't give a rat ass about it...

As I dey so, I just wanna make more money even if dollar exchange is #8500/$ or fuel is selling at #2500/litre no problem, but if problem dey, no problem...!!

3 Likes

Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by mrJayPEG: 12:44pm On Jun 10, 2023
Finestgurlie:
cheesy

I remembered when buhari entered newly, people where busy hailing his imaginary body odour language that he's working immediately.
something similar is also happening today people hailing the drug baron so early.
don't worry e go play for our eyes.
one thing is certain and just like Buhari failure, Tinubu is bound to fail because you can't build a mansion on faulty foundation and expect success.
the process that brought Tinubu is flawed and cruel so his failure is imminent.
we go see am.

I'm sorry but you appear so misguided. At least, before you pour out your frustration on anyone, make sure what you're about to say is right, & also makes sense.

From my own little knowledge, SEC is an American company, and for a very long time it has been standing against crypto currencies. Lately, they've been making serious moves against Binance itself and they even (tried) suing Binance either earlier this month, or late last month. This not my field as I don't do crypto trading, but I just try to have a vague idea of major happening around the globe.

Them trying to ban Binance Nigeria Is just crazy because firstly, from what I know so far, SEC is an American organisation and not an International one, also this might just be a manipulation because it seems they just want to make their US dollars valuable again.

I too don't really like Tinubu, but this is not his doings.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by lavylilly: 12:44pm On Jun 10, 2023
chaseblack:
Ok, anyone still trading crypto is gullible. The money in crypto right now is akin to gambling some will win some will lose, be wise!
join m y c r y p t o n g on telegram
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Iyasaburi: 12:48pm On Jun 10, 2023
GENES11S:
In developed countries, Crypto exchange rate obeys the country's exchange policies regarding other non digital currencies.

In Nigeria, CBN exchange rate is around 460 naira to dollar. Crypto has never obeyed this, not even once.
Their exchange rate is usually around 740 to 840 therefore contributing to the downfall of Naira while promoting the dollar.

Even payment company like PayPal had to obey every countries monetary policy. It's either you accept it or you don't operate there. It's simple.

Nigerians should shun crypto for now until they take our monetary policy seriously. Right now, we are helping them to destroy our economy.

Did you understand the situation at all?
Your banks cannot provide you with dollar at the regulated price and you expect the crypto companies to give it to you at the regulated price. Tell me who is destroying the country.
Mind you, it is the banks that round trip the dollars given to them by the CBN through the abokis that are the major problem Nigeria has
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by georgeakins: 12:53pm On Jun 10, 2023
Finestgurlie:
cheesy

I remembered when buhari entered newly, people where busy hailing his imaginary body odour language that he's working immediately.
something similar is also happening today people hailing the drug baron so early.
don't worry e go play for our eyes.
one thing is certain and just like Buhari failure, Tinubu is bound to fail because you can't build a mansion on faulty foundation and expect success.
the process that brought Tinubu is flawed and cruel so his failure is imminent.
we go see am.

Obi can never be president of Nigeria.

Jagaban is the president for the next four years.

Any disaffected person should jump into the lagoon.

1 Like

Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by agentarcher(m): 12:54pm On Jun 10, 2023
mariovito:
These guys just like to set us back.

First you ban crypto, how did you expect them to get your so called license?

Anyway, now that the ban on crypto has been lifted, I believe Binance will do the needful and regularize their position.

How is crypto a sign of progress? Explain with valid points.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by GENES11S: 1:00pm On Jun 10, 2023
masseratti:
you are actually very wrong, what crypto use is the market rates, in every country, not what the government fix or officials rates..
It's high time Nigeria stop using official rates for anything and allow the Naira to flow naturally and be determined by the market forces.

The bolded paragraph almost made me not to reply your comment because it shows you are ignorant. It's not an insult, you may be well educated in other subjects but economics is not one of them.

And you don't understand what am saying.

I said cryto exchange rate for developed countries to other countries currencies (non digital).

Am not talking about Bitcoin vs dollar or Bitcoin vs pound sterling etc.

Am talking about Naira vs dollar, Cad vs Dollar, dollar vs pound sterling etc in cryto trading.

In developed countries where Crypto is allowed to operate, the countries official exchange rate is adopted is such trade.


Take note that I use the term developed countries.
If you say am wrong, mention a developed country where Crypto flout the exchange rate and are allowed to operate. No long talk, just give me an example with proof.

In developed countries, any financial institution that doesn't obey the exchange rate or other financial policies are kicked out immediately. Because that's were currency devaluation start from.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by David160(m): 1:01pm On Jun 10, 2023
doyin01:


Shut Up...it is not binance exchange...binance Nigeria limited is a fake company and entirely different..

Binance Nigeria is the Nigeria subsidiary of Binance... You Tinubu supporters are dumb, useless and stupid... Worthless hag
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by thatigboman: 1:01pm On Jun 10, 2023
priceactionx:
what concerns them? na dia money. Harmonize the exchange rates and see all these crypto market operating in nigeria natually loose customers.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by NOwazobia: 1:01pm On Jun 10, 2023
It is all for the taxes, and a little about money laundering.

The new approval was under tax remittance, and this cannot happen without exchanges registering as organisation, after all, CEX are actually organisation.

Binance shot it self when they decided to carve a section for the Nigeria Market labelled Binance Nigeria, and already started activating functionalities that concerns the Nigerian Market, courtesy of the New law.

It is Binance, not Crypto.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by johnjose68: 1:03pm On Jun 10, 2023
Finestgurlie:
cheesy

I remembered when buhari entered newly, people where busy hailing his imaginary body odour language that he's working immediately.
something similar is also happening today people hailing the drug baron so early.
don't worry e go play for our eyes.
one thing is certain and just like Buhari failure, Tinubu is bound to fail because you can't build a mansion on faulty foundation and expect success.
the process that brought Tinubu is flawed and cruel so his failure is imminent.
we go see am.
If dem carry you go prison now, you will say na your grandma dey your matter, and those you are trying to impress will forget about you like they did to Nnamdi kanu and suddenly became in love with pitobi.

Try and buy yourself a brain when it is still cheap.

On ASIWAJU's mandate I stand
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Britishpea: 1:03pm On Jun 10, 2023
Finestgurlie:
cheesy

I remembered when buhari entered newly, people where busy hailing his imaginary body odour language that he's working immediately.
something similar is also happening today people hailing the drug baron so early.
don't worry e go play for our eyes.
one thing is certain and just like Buhari failure, Tinubu is bound to fail because you can't build a mansion on faulty foundation and expect success.
the process that brought Tinubu is flawed and cruel so his failure is imminent.
we go see am.

Pessimist. Na you go fail same way your parents failed. How do you wish bad for the country. If the ladder fails you failed. Those who feel affected by their failures are the ones crying everyone on SM.

You don’t even know how SEC works. You are a failure to your little education oldie!
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by GENES11S: 1:03pm On Jun 10, 2023
Iyasaburi:


Did you understand the situation at all?
Your banks cannot provide you with dollar at the regulated price and you expect the crypto companies to give it to you at the regulated price. Tell me who is destroying the country.
Mind you, it is the banks that round trip the dollars given to them by the CBN through the abokis that are the major problem Nigeria has

All Banks trade dollar at CBN rate. Stop spreading fake news.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by walezy14(m): 1:05pm On Jun 10, 2023
Finestgurlie:
cheesy

I remembered when buhari entered newly, people where busy hailing his imaginary body odour language that he's working immediately.
something similar is also happening today people hailing the drug baron so early.
don't worry e go play for our eyes.
one thing is certain and just like Buhari failure, Tinubu is bound to fail because you can't build a mansion on faulty foundation and expect success.
the process that brought Tinubu is flawed and cruel so his failure is imminent.
we go see am.

So, all your prayer is for this government to fail? It will not failed in Jesus name. Negative thought thinker .
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by sexuential: 1:05pm On Jun 10, 2023
GENES11S:
In developed countries, Crypto exchange rate obeys the country's exchange policies regarding other non digital currencies.

In Nigeria, CBN exchange rate is around 460 naira to dollar. Crypto has never obeyed this, not even once.
Their exchange rate is usually around 740 to 840 therefore contributing to the downfall of Naira while promoting the dollar.

Even payment company like PayPal had to obey every countries monetary policy. It's either you accept it or you don't operate there. It's simple.

Nigerians should shun crypto for now until they take our monetary policy seriously. Right now, we are helping them to destroy our economy.

Speak of what you are grounded in or else seal Ur lips.

You points mentioned above shows that you are speaking from both ends. Do other countries have 2 exchange rates?

Do other countries give or sell foreign currency to a selected few and the rest buy from this few?

Pls, just review Ur reasoning and get updated on the right knowledge.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by SmartyPants(m): 1:06pm On Jun 10, 2023
mariovito:
These guys just like to set us back.

First you ban crypto, how did you expect them to get your so called license?

Anyway, now that the ban on crypto has been lifted, I believe Binance will do the needful and regularize their position.

You're asking questions and answering them in the same breath. Nigerians. cheesy

Such a simple sturvs. Binance ought to go and register. Is that not all?
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by tabaralph: 1:06pm On Jun 10, 2023
Finestgurlie:
cheesy

I remembered when buhari entered newly, people where busy hailing his imaginary body odour language that he's working immediately.
something similar is also happening today people hailing the drug baron so early.
don't worry e go play for our eyes.
one thing is certain and just like Buhari failure, Tinubu is bound to fail because you can't build a mansion on faulty foundation and expect success.
the process that brought Tinubu is flawed and cruel so his failure is imminent.
we go see am.
.

Tinubu has really tormented your miserable life that you even go off the topics on nairaland, well get your self together because the so called drug barons will rule over you and your like for atleast another 4 years. Now to the topic of the day before you derailed; the SEC said you should not invest in binnacle crypto that they are scammers.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by GENES11S: 1:06pm On Jun 10, 2023
Slynation:
Crypto has made more people millionaire while the Nigeria economy has drove many into pepertual poverty...

So why should an ordinary citizen be bordered about the monetary policy when those in charge doesn't give a rat ass about it...

As I dey so, I just wanna make more money even if dollar exchange is #8500/$ or fuel is selling at #2500/litre no problem, but if problem dey, no problem...!!


grin grin grin
I like the fact that you went straight to the point, not trying to falsely justify crypto like others are doing.

1 Like

Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by onuman: 1:07pm On Jun 10, 2023
Finestgurlie:
cheesy

I remembered when buhari entered newly, people where busy hailing his imaginary body odour language that he's working immediately.
something similar is also happening today people hailing the drug baron so early.
don't worry e go play for our eyes.
one thing is certain and just like Buhari failure, Tinubu is bound to fail because you can't build a mansion on faulty foundation and expect success.
the process that brought Tinubu is flawed and cruel so his failure is imminent.
we go see am.

In 2015, Muhammadu Buhari was sentient - his senses of perception functional.
In 2023, Bola Tinubu is insentient - his senses of perception dysfunctional.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by GENES11S: 1:08pm On Jun 10, 2023
sexuential:


Speak of what you are grounded in or else seal Ur lips.

You points mentioned above shows that you are speaking from both ends. Do other countries have 2 exchange rates?

Do other countries give or sell foreign currency to a selected few and the rest buy from this few?

Pls, just review Ur reasoning and get updated on the right knowledge.


Oga mentioned one country (developed country) with proof or keep shut.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by SmartyPants(m): 1:08pm On Jun 10, 2023
tabaralph:
.

Tinubu has really tormented your miserable life that you even go off the topics on nairaland, well get your self together because the so called drug barons will rule over you and your like for atleast another 4 years. Now to the topic of the day before you derailed; the SEC said you should not invest in binnacle crypto that they are scammers.

No, simply that they are not registered.
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Fearyourcreator: 1:09pm On Jun 10, 2023
Finestgurlie:
cheesy

I remembered when buhari entered newly, people where busy hailing his imaginary body odour language that he's working immediately.
something similar is also happening today people hailing the drug baron so early.
don't worry e go play for our eyes.
one thing is certain and just like Buhari failure, Tinubu is bound to fail because you can't build a mansion on faulty foundation and expect success.
the process that brought Tinubu is flawed and cruel so his failure is imminent.
we go see am.
Oloriburuku niyin se... Leave Seun go marry your village people... Olofo
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by tabaralph: 1:09pm On Jun 10, 2023
SmartyPants:


No, simply that they are not registered.
Until they perfect their registration stay clear off pinnacle
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by Firstcitizen: 1:11pm On Jun 10, 2023
Antell95:
PLEASE someone help me with a laptop. please!

You wan take am do..... grin tongue
Re: SEC Bans Binance Nigeria Limited: It Is An Illegal Entity by teeboiyi(m): 1:20pm On Jun 10, 2023
Crypto trading is a risk on its own, the price falls and rise.

(1) (2) (3) (4) (5) (6) (Reply)

Your Best Investment Option, Key In Now / The Surge In Ponzi Schemes More Likely To Choke MMM Than Media Frenzy / Jpmorgan: Investors Lose N311bn In 24 Hours

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 83
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.