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Binance Resolves 79 Cases of Its Restricted Nigerian User Accounts -Breaking

by Mike Robinson

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Binance resolves 79 cases of its restricted Nigerian user accounts
  • Binance Exchange resolves 79 issues from 281 Nigerian User accounts.
  • The exchange promised that the account functionality would be restored to normal within two weeks.
  • CZ, CEO, apologises for any inconvenience.

Binance exchange has taken another step forward to resolve 79 cases out of the 281 Nigerian users’ accounts it restricted.

Binance made it clear that they will soon settle the rest of the outstanding accounts. The exchange will also be able to provide simplified resolutions for all cases not related to law enforcement that were accidentally affected.

At the moment, we have completed 79 cases. We are still working on other cases. Non-law enforcement related cases will all be solved within two week.

Binance, at the request international law enforcement, imposed this restriction in order to enhance its platform security.

Personal account restrictions on 281 Nigerian bank accounts were implemented. Around 38% of the cases were also restricted by international law enforcement.

In addition, Binance CEO Changpeng Zhao (CZ) has expressed his apology for any inconvenience that the restriction of the account may have caused, where he emphasized that users’ security remains his top priority. CZ further stated that Binance security mechanisms like KYC, anti money laundering and cooperation with law enforcement were in place to safeguard its ecosystem.

Binance intends to continue expanding its cryptocurrency portfolio in Nigeria and rebuild trust between users. This crypto collaboration will be made possible by Binance’s massive customer service (CS), mainly in Nigeria. He said, “We will dedicate more CS and risk agents with a great understanding of the Nigerian market.”

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