Fejiro Hanu, CEO of Nigerian cryptocurrency exchange platform Patricia, recently addressed rumors about the exchange’s potential closure due to customer fund loss. Hanu clarified that despite speculation, the exchange is not shutting down and highlighted the prevalence of negative news overshadowing positive developments.

Hanu criticized news outlets and blogs for spreading misinformation and clickbait headlines, leading to misconceptions about the exchange’s status. He expressed frustration over the dissemination of inaccurate information and apologized to users while affirming his commitment to combat online harassment.

Patricia, considered Nigeria’s first cryptocurrency exchange, faced closure rumors without any official confirmation. Despite the government’s strict stance on cryptocurrencies, several exchanges have emerged in the country.

Last year, Patricia admitted to a $2 million customer funds loss due to a security breach, linked to former Nigerian gubernatorial candidate Wilfred Bonse. Following Bonse’s arrest in connection with the breach, Hanu expressed gratitude to the Nigerian police for their investigation, hinting at restoring trust.

Recent commentaries suggested the exchange was on the verge of collapse, prompting Hanu to publicly refute closure rumors and demonstrate the exchange’s resilience. In response, Ezra Olubi, co-founder and CTO of Paystack, questioned the exchange’s narrative, implying potential misappropriation of customer assets for lavish spending.

Despite the challenges, Hanu’s statement aims to reassure users of the exchange’s stability amidst ongoing scrutiny. The cryptocurrency community continues to monitor the situation closely as Patricia navigates through these turbulent times.

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