…all customers funds are completely safe-Luno, Binance
Following the directive by the Central Bank of Nigeria (CBN) to financial institutions to close cryptocurrency accounts, crypto companies, Luno and Binance have both released a statement to calm their customers assuring them of the safety of their funds.
According to Luno in a press release “Luno is aware of the circular issued by the Central Bank of Nigeria advising financial institutions in the country to close bank accounts held by cryptocurrency service providers.”
“Luno will continue to operate as normal while we seek further clarity from the authorities. Some Naira deposit methods are currently affected, please check the status page for updates. Withdrawals are unaffected and will continue to be processed, but may take longer than usual. All customer funds are completely safe.”
“There’s no need to take any action regarding your account at this time. We will update our customers on all incoming developments as soon as we receive further information, and certainly well in advance should withdrawals be affected.”
“Luno has always worked closely with regulators in Africa and all regions in which we operate, and will continue to do so. Nigeria’s regulators have taken a pragmatic and forward-looking approach to cryptocurrency in the past and we’re confident that this issue can be resolved quickly, so Nigeria can continue to play a central role in the growth of cryptocurrency.”
Binance on its part temporarily suspended NGN deposits via their fiat channels but withdrawals remain available. They also assured customers on the safety of their funds.