Binance Block Nigeria – No More NGN Trading

  • image

    “Breaking news: Binance, a major player in the cryptocurrency exchange industry, is bidding farewell to Nigeria! The company has announced the cessation of all services involving the Nigerian naira (NGN). Here are the key details along with significant dates to remember:”

    – March 5: No more NGN deposits
    – March 7: Sayonara to NGN trading pairs
    – March 8: NGN withdrawals stop, and any leftover cash magically turns into USDT

    Now, if you’ve got NGN hanging out in your Binance account, it’s time to make a move. The advice is clear: withdraw it, trade it, or convert it to something else before the curtain falls on these services. Oh, and heads up – Binance Pay is also ditching NGN on March 6. Farewell, naira!


    In a message straight to the Binance traders, they spilled the beans:
    Binance is hitting the brakes on all things Nigerian Naira (NGN), following this timeline we’re laying out.
    The friendly suggestion? Get that NGN out of there, trade it, or switch it up for some crypto goodness before we flip the switch on NGN services.

    Hold up, though, this only affects NGN – you can still roll with other cryptocurrencies for all your Binance fun and games.
    • No more NGN deposits after 2024-03-05 14:00 (UTC).
    • Binance Auto-Invest gives NGN the boot after 2024-03-06 03:00 (UTC).
    • NGN gets the ax from BinancePay’s list of pals on 2024-03-06 03:00 (UTC).
    • Binance Convert waves goodbye to NGN and its crew by 2024-03-07 02:00 (UTC).
    • NGN Spot Trading pairs, like BTC/NGN and USDT/NGN, vanish into thin air by 2024-03-07 03:00 (UTC).
    • No more support for NGN withdrawals after 2024-03-08 06:00 (UTC).

    And here’s a little twist – Binance will convert any leftover NGN in your Spot and Funding wallets into USDT at a cool ratio of 1 USDT = 1,515.13 NGN after 2024-03-08 08:00 (UTC).

    Okay, it’s a bit of a bummer, we know. But here’s the million-dollar question: while all this is going on, has the value of the naira against the dollar shot up? What’s the word on the financial street?


    Leave a Reply