Is Binance banned in Nigeria? SEC circular, naira services
No sign-up button for Nigeria: we show one only where we have verified the Binance referral offer for that country.
Is Binance banned in Nigeria? Short answer
Checked on 20 October 2026. On 9 June 2023 SEC Nigeria published a circular saying Binance Nigeria Limited is neither registered nor regulated by the Commission and that its operations in Nigeria are therefore illegal. A separate SEC notice of 26 July 2023 says the same about Binance and its website binance.com. Binance’s own page says NGN is not currently listed for Spot trading. This page shows no Binance sign-up button, and we publish no code for Nigeria.
| Question | What we found | Source |
|---|---|---|
| Binance Nigeria Limited and the SEC | Neither registered nor regulated; operations called illegal (9 June 2023) | SEC Nigeria circular |
| NGN on Binance Spot | Not currently listed | Binance NGN page |
| Naira services in March 2024 | Reported as discontinued | TechCabal, 5 March 2024 |
| SEC Nigeria notice on Binance and binance.com | Neither registered nor regulated; operations called illegal (26 July 2023) | SEC Nigeria notice |
| Official document blocking the Binance site or app | We did not find one | Our check, 20 October 2026 |
What the SEC Nigeria said about Binance Nigeria Limited
The circular of 9 June 2023 says “Binance Nigeria Limited is neither registered nor regulated by the Commission” and that “its operations in Nigeria are therefore illegal”. It directs the entity “to immediately stop soliciting Nigerian investors in any form whatsoever” and adds that “any member of the investing public dealing with the entity is doing so at his/her own risk.” The circular names the company Binance Nigeria Limited; it is not a statement that the Binance site or app is blocked. Binance disagrees with the framing: in a post dated 7 May 2024 Richard Teng wrote that “Binance Nigeria Limited is not affiliated with Binance”, that it “was registered by third parties in violation of the Binance trademark”, and that the SEC’s reference to it was incorrect. That is Binance’s account of the entity, not a finding by the SEC. A separate notice of July 2023 covers Binance itself. SEC Nigeria’s “Warning against investing with Binance” (published 28 July 2023, signed 26 July 2023) refers to “the website operated by Binance (https://www.binance.com)” and says Binance “is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal”; it adds that “any member of the investing public dealing with the entity, making such solicitation is doing so at his/her own risk.” This notice does not mention Binance Nigeria Limited, so the June circular (the Nigerian entity) and the July notice (Binance and binance.com) are two different documents. We quote them and draw no further conclusion from them: notice at sec.gov.ng.
Naira on Binance: what was discontinued in March 2024
TechCabal reported on 5 March 2024 that Binance would discontinue all naira services. According to that report, NGN deposits stopped after 5 March, withdrawals ran until 8 March, NGN pairs were delisted on 7 March, and remaining NGN balances were automatically converted to USDT. We use this as a dated news event; we have not yet matched it to an official Binance announcement.
What Binance’s own pages show today
Binance’s Nigerian Naira page says NGN “is not currently listed for Spot trading on the Binance Exchange (CEX)” and “cannot currently be purchased directly with a debit or credit card”. The page carries no date; the check date is ours, 20 October 2026.
Why we show no Binance sign-up button in Nigeria
We do not show a sign-up link or a code for Binance in Nigeria while the regulator’s circular and notice stand and Binance’s own page shows no NGN spot listing. Do not give a false country or use someone else’s identity to get around a restriction or a check.
What we could not verify
We did not verify whether P2P with naira is available on Binance today, the court cases of 2025 and 2026, or the current registration status of Binance with SEC Nigeria. We make no claim about them. For how we check facts, see How we verify and the editorial policy.
FAQ
The questions above are answered in the FAQ block of this page, each with its source and check date.
Facts and sources
| Fact | Source | Checked |
|---|---|---|
| In a post dated 7 May 2024 Binance's Richard Teng wrote that "Binance Nigeria Limited is not affiliated with Binance" and that it "was registered by third parties in violation of the Binance trademark". This is Binance's statement, not an SEC finding. | Binance: Binance leadership post on Binance Nigeria Limited (7 May 2024) | |
| The SEC Nigeria circular of 9 June 2023 states that "Binance Nigeria Limited is neither registered nor regulated by the Commission" and that "its operations in Nigeria are therefore illegal". | SEC Nigeria: Circular on the activities of Binance Nigeria Limited (9 June 2023) | |
| The circular states that "Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever." and that "Any member of the investing public dealing with the entity is doing so at his/her own risk." | SEC Nigeria: Circular on the activities of Binance Nigeria Limited (9 June 2023) | |
| The SEC Nigeria notice "Warning against investing with Binance", published 28 July 2023 and signed 26 July 2023, refers to "the website operated by Binance (https://www.binance.com)". It states that Binance "is neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal" and that "any member of the investing public dealing with the entity, making such solicitation is doing so at his/her own risk". The notice does not mention Binance Nigeria Limited. | SEC Nigeria: Warning against investing with Binance (published 28 July 2023, signed 26 July 2023) | |
| Binance's Nigerian Naira page states "Nigerian Naira (NGN) is not currently listed for Spot trading on the Binance Exchange (CEX)." and "NGN cannot currently be purchased directly with a debit or credit card on the Binance Exchange." The page shows no date. | Binance: Binance - Nigerian Naira (NGN) | |
| TechCabal reported on 5 March 2024 that Binance would discontinue all naira services; NGN deposits stopped after 5 March, withdrawals ran until 8 March, NGN pairs were delisted on 7 March, and remaining NGN balances were automatically converted to USDT. This is a news report, used only as a dated event. | TechCabal: Binance to discontinue all naira services (5 March 2024) |
FAQ
Is Binance banned in Nigeria?
We do not say so as a fact. The SEC Nigeria circular of 9 June 2023 says Binance Nigeria Limited is neither registered nor regulated by the Commission and that its operations in Nigeria are therefore illegal. In our check on 20 October 2026 we did not find an official document about blocking the Binance site or app.
Is Binance legal in Nigeria?
We do not give legal advice. The SEC circular describes Binance Nigeria Limited's operations in Nigeria as illegal and says anyone dealing with the entity does so at their own risk.
Is NGN listed for Spot trading or card purchase on Binance?
Binance's page for the Nigerian naira says NGN is not currently listed for Spot trading and cannot currently be purchased directly with a debit or credit card.
What did the SEC say about Binance?
The 9 June 2023 circular directs Binance Nigeria Limited to immediately stop soliciting Nigerian investors in any form whatsoever.
Does CryptoCodeHub offer a Binance code for Nigeria?
No. We show no Binance sign-up button and no code for Nigeria.