Cryptocurrency Platforms Remain Operational Amidst Nigerian Government's Ban

By: Eliza Bennet

In a shocking move, the Nigerian government reportedly blocked citizen access to popular crypto platforms, amidst accusations of Binance stepping into roles meant for Nigeria's Central Bank. Coinbase refuted these claims, maintaining its service availability in Nigeria, despite the ban.

Specifically, the issue apparently affects only those trying to access the original Binance.com website, leaving its App users unscathed. The blockade originated due to worries about Nigerian forex traders utilising Binance's peer-to-peer platform for currency speculation activities.

Eventually, several crypto stakeholders started suggesting VPN use to circumvent the ban. Though Binance is embroiled in regulatory challenges in the US, its platform data depicts around 5 billion Naira ($3 million USDT) of trades within the last 24 hours.