Federal Government Finally Blocks Website of Binance and other Crypto Platforms

Major cryptocurrency trade platform, Binance, has confirmed the blocking of its website to Nigerian users.

The cryptocurrency trading platform disclosed this in a statement on Thursday as Nigerians lament inability to access the platform’s website.

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

“Only users attempting to access the website are impacted, although the App is currently available.  Importantly, all user funds are secure and accounts can still be accessed”, Binance said.

Reports say that apart from Binance, the websites of other platforms such as Forextime, OctaFX, Crypto, FXTM, Coinbase, Kraken, among others, were equally blocked.

The blocking of the websites of the cryptocurrency platforms was also confirmed in a tweet by Bayo Onanuga, a spokesman of President Bola Tinubu.

https://twitter.com/aonanuga1956/status/1760630428057075830

The development comes a day after Beesreign Media reported that the Central Bank was planning to shut down crypto websites in the country, as a measure to stabilize the foreign exchange market, following the skyrocketing devaluation of the naira.

Some finance experts have alleged that the peer to peer trading on Binance and other platforms has led to a negative manipulation of the real value of the naira, and causing the country’s currency to weaken.