Patricia, CEO of Nigerian exchange, refutes rumors about company closure.
Fejiro Hanu, the CEO of Nigerian cryptocurrency exchange platform Patricia, recently addressed rumors about the imminent closure of the exchange. Hanu took to his social media account to deny these rumors and shed light on the dissemination of negative news that often leads to misconceptions about the company’s status.
Hanu expressed his frustration with news outlets and blogs that perpetuate clickbait headlines and misinformation, contributing to the rapid spread of the false closure narrative. He apologized to the platform’s users for any inconvenience caused and asserted his determination to not give in to online harassment.
Despite facing closure rumors, Patricia, known as Nigeria’s pioneering cryptocurrency platform, has not made any official announcement regarding its closure. Despite the government’s strict stance on cryptocurrencies, several crypto exchanges have emerged in the country.
Last year, Patricia faced scrutiny after admitting to a $2 million loss of customer funds due to a security breach. This incident was later linked to former Nigerian gubernatorial candidate Wilfred Bonse. In November, Bonse was apprehended in connection with the exchange breach. Hanu expressed relief and gratitude towards the Nigerian police for their thorough investigation, hinting at a potential restoration of trust.
However, recent commentaries have suggested that the company may be on the brink of collapse. Hanu’s public denial of the closure rumors is an effort to demonstrate the exchange’s resilience in the face of ongoing challenges.
In response to the incident, Ezra Olubi, the co-founder and CTO of Paystack, expressed skepticism about the exchange’s narrative. Olubi questioned the credibility of the exchange’s executives, suggesting that they may have misused customer assets before alleging a potential hack.
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