Restriction Access to Cryptocurrency Trading Platform by Nigerian Government
Restriction Access to Cryptocurrency Trading Platform by Nigerian Government

Restriction Access to Cryptocurrency Trading Platform by Nigerian Government

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Nigerian government has asked Telecom firms to restrict access to Crypto exchange behemoths to clampdown on crypto transactions. Crypto websites such as Binance, Coinbase and OctaFX has witnessed inaccessibility as reported by users on various media platforms.

“The restriction aims at slowing crypto speculation activities in the country”, according to Sujha Sundararajan, a crypto news reporter. This is coming few months after CBN lifted its ban on crypto transactions asking lenders to open account for crypto firms to reverse the ban it imposed in 2021.

In response to this restrictions, Binance exchange said it has put in motion the efforts to ensure regulatory compliance and maintain user protection. In its own words, Binance exchange stated, “We have stringent measures in place to protect users in the market, including real-time monitoring, immediate removal of non-compliant advertisements, and permanent removal of bad actors from using our P2P product.”

In another news, EFCC clampdown on Bureau De Change operators in Ibadan, Oyo State on Wednesday as they marched through Sabo area where there are many bureau de change operators as seen below.

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