Binance Resolves 79 Cases of Its Restricted Nigerian User Accounts

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

Additionally, Binance has made a promise with strong assurance to soon resolve the remaining accounts in the coming days. Moreover, the exchange will harness a complete resolution and simplified solutions to all non-law enforcement-related cases that got affected accidentally.

Currently, we have resolved 79 cases and continue to work through others. All non-law enforcement-related cases will be resolved within two weeks.

In detail, Binance imposed the restriction to strengthen its platform security and fraud prevention mechanism at the request of international law enforcement.

Some 281 Nigerian accounts have been affected by these personal account restrictions with approximately 38% of these cases restricted at the request of 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. Furthermore, CZ stated that Binance protection mechanisms such as KYC, anti-money laundering measures, and collaboration with law enforcement are in place to ensure its ecosystem remains highly protected.

Binance will continue to expand its crypto portfolio in Nigeria by rebuilding trust among users. The exchange seeks to facilitate this crypto synergy by devoting immense customer service (CS) personnel mainly to Nigeria. He said, “We will dedicate more CS and risk agents with a great understanding of the Nigerian market.”