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Nigerian Government Cracks Down on Binance and Crypto Firms Amid Forex Crisis

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Find out the shocking restrictions placed on Binance and others in Nigeria's financial market! 👀🇳🇬 #ForexCrisis #CryptoBan

The Nigerian government has made a bold move by blocking top cryptocurrency exchanges like Binance, OctaFX, and Coinbase, citing concerns over the current Forex crisis. Coinciding with this action is Binance's decision to limit USDT/NGN trading as the value of the Naira fluctuates. In response to allegations of price manipulation, Binance Nigeria has denied any involvement, stating that external factors influence the FX rates in the country.

Despite lifting the ban on cryptocurrency firms earlier, Nigeria has now instructed telecom companies to restrict access to websites like Binance and OctaFX. Binance has clarified its recent actions to adjust trading by Nigerians, emphasizing the need to address abnormal trading patterns on its platform.

Nigerian crypto traders are exploring alternatives due to Binance's admission of 'price suppression' on USDT trading. Binance's move to disable Dollar-Naira exchanges is part of their commitment to combating manipulative behavior among users, ensuring fair trading practices in the crypto market.

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Image courtesy of "Premium Times"

Forex Crisis: Nigerian govt blocks Binance, OctaFX, Coinbase, others (Premium Times)

PREMIUM TIMES had exclusively reported that the government was considering blocking Binance and other crypto firms.

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Image courtesy of "TechCabal"

Desperate measures? Binance limits USDT/NGN trading as Naira ... (TechCabal)

Binance, the world's largest cryptocurrency exchange, placed limits on peer-to-peer transactions trading the USDT/NGN pair as the naira fell.

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Image courtesy of "TheCable"

Complex factors, not us, influence FX rates in Nigeria, says Binance (TheCable)

Binance Nigeria has reacted to reports alleging price manipulation in foreign exchange (FX) rates on its platform.

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Image courtesy of "Businessday.ng"

Nigeria restricts Binance, others access months after lifting ban (Businessday.ng)

Nigeria has asked its telecommunications firms to restrict access to the websites of cryptocurrency firms such as Binance, OctaFX...

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Image courtesy of "Nairametrics"

Naira value: Binance explains actions on trading by Nigerians (Nairametrics)

Crypto trading platform, Binance, it has taken some actions to adjust trading on its platform by Nigerians to address what it described as an unusual ...

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Image courtesy of "CryptoSlate"

Binance accused of manipulating Nigerian Naira as 'glitch' impacts ... (CryptoSlate)

Nigerian crypto traders seek alternatives as Binance confirms 'price suppression' on USDT trading on its P2P platform.

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Image courtesy of "TechEconomy.ng"

Why Binance Disabled Dollar-Naira Exchange - Tech | Business ... (TechEconomy.ng)

Binance has said in an announcement on its “commitment to P2P users in Nigeria” that “users behaving in a manipulative way will be removed...

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Image courtesy of "Cointelegraph"

Binance adopts USDT price cap to align with local rules in Nigeria (Cointelegraph)

The crypto exchange told its Nigerian users it is committed to working hand in hand with local authorities, lawmakers and regulators.

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Image courtesy of "The Punch"

Forex: Binance adopts price cap as presidential aide advocates ban (The Punch)

Peer-to-peer exchange, Binance, has capped the selling price of cryptocurrency stablecoin, Tether, on its platform.

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Image courtesy of "Daily Post Nigeria"

Naira appreciates massively on Binance amid access restriction in ... (Daily Post Nigeria)

For the first in a while, Naira appreciated massively at Binance, a cryptocurrency platform, amid reported access restrictions on Nigeria's cyberspace.

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Image courtesy of "Leadership Newspaper"

Binance Addresses Unusual Currency Movement (Leadership Newspaper)

Binance stated that it is collaborating with legislators and authorities to preserve openness in cryptocurrency trading and its effects on the financial.

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Image courtesy of "The Punch"

How Binance P2P contributes to plummeting Naira value (The Punch)

There is a huge rot in the entire BDC system in Nigeria and I don't think the CBN governor has any idea how deep it goes.

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Image courtesy of "Peoples Gazette"

Binance officially announces blockade of website in Nigeria (Peoples Gazette)

World's largest cryptocurrency trade platform, Binance has confirmed blockade of its website and other cryptocurrency platform's to Nigerian users.

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Image courtesy of "SaharaReporters.com"

Cryptocurrency Trading Platform, Binance Announces Blockage Of ... (SaharaReporters.com)

A popular cryptocurrency trading platform, Binance has confirmed that its official website can no longer be accessed by Nigerian users.

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Image courtesy of "Businessday.ng"

Binance confirms website restriction, mobile app unaffected (Businessday.ng)

Binance has confirmed that some users are having issues accessing its website. The cryptocurrency firm, however, stated that its mobile...

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