Binance Blocks Nigerians Access to its Website

Mayowa DurosinmiFebruary 22, 20241 Mins read503

Binance Blocks Nigerians Access to its Website

Binance, the world’s leading cryptocurrency exchange, has confirmed blocking its website and other cryptocurrency platforms to Nigerian users.

This was disclosed on Thursday in a statement released as Nigerians complain of inaccessibility to the Binance.com website. Also, Binance stated that the blockage only affects its users accessing the website while noting that its Apps were still working for users to access their accounts.

We are aware that some users are experiencing issues accessing binance.com, along with other platforms in the industry,” Binance said.

Furthermore, Binance added that it remains in adherence to the local regulations and laws.

“We continue to actively engage with regulators, policymakers, and other relevant stakeholders to foster an open, transparent dialogue about managing the evolving landscape of cryptocurrency,” Binance said.

Meanwhile, this follows the clampdown on cryptocurrency and Bureau De Change platforms by the Tinubu-led administration in a bid to stabilize the naira.

West Africa Weekly reported that Binance affirms working in adherence to local authorities, the Nigerian government to block dollar-naira trading on its platform.

This adherence led to Binance placing a ban on the sell option of Nigerian users, blocking them from selling fiat currency like USDT on Tuesday.

The blocking by the Federal government, though not officially announced, was slightly projected as the next move through the presidential spokesperson, Bayo Onanuga, who posited it should be banned to ensure control of the rate of naira in the financial market.

“The EFCC and the CBN should move against these platforms trying to manipulate our national currency to Ground Zero. Crypto should be banned in our country, or else this bleeding of our country will continue unabated,” he posted.