TheCable

Binance, a cryptocurrency exchange, says Nigerian users can still access its platform despite reports that the federal government has restricted its operation in Nigeria.

The cryptocurrency exchange firm made this known in an email sent to its users on February 22, 2024.

On February 21, 2024, some users had experienced challenges gaining access to the platform, while those who could access the platform via the app, had difficulties with using some services.

“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,” Binance said.

“Importantly, all user funds are secure and accounts can still be accessed. 

“We remain committed to the adherence to local regulations and laws. We continue to actively engage with regulators, policymakers and other relevant stakeholders to foster an open transparent dialogue about managing the evolving landscape of cryptocurrency.”

Binance also said any changes or updates will be communicated promptly via its official channels.

The development is coming amid reports that the federal government has stopped the operations of cryptocurrency platforms such as Binance, OctaFX and Coinbase.

Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, had confirmed the restriction in a post on X on February 24.

Onanuga had also alleged on February 21, that the cryptocurrency platforms contribute to the manipulation of the foreign exchange (FX) market.