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Binance asks Nigerians to withdraw NGN assets as it ends services in Nigeria  

Crypto trading platform,  Binance, has advised Nigerians trading on its exchange to withdraw all their NGN assets as it discontinues services in the country. 

This comes amidst ongoing rancour with the Nigerian government over Binance operations in the country. 

 The crypto platform is being accused of manipulating the country’s currency leading to its steady fall against other currencies. Some of its executives are also currently being detained by the Nigerian government. 

The company said it would no longer accept Naira deposit from today, March 5, adding that Nigerians now have until March 8 to withdraw their assets. Binance said any asset not withdrawn by that date would be converted to USDT.  

Although the Nigerian government has blocked access to the Binance website weeks ago, the company in a statement released on Tuesday and published on its website, said: 

Binance said it would delist all existing NGN spot trading pairs (i.e., BTC/NGN and USDT/NGN) at 2024-03-07 03:00 (UTC). 

All open spot orders with respect to the above trading pairs will automatically be closed when trading ceases in the relevant trading pair. 

The company it would also  convert will delist NGN and all corresponding pairs at 2024-03-07 02:00 (UTC), while Binance P2P delisted all NGN trading pairs at 2024-02-28 15:00 (UTC). 

Binance said it would remove NGN from the list of supported payment options on Binance Pay at 2024-03-06 03:00 (UTC). 

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