Cryptocurrency Ban: Binance Delists Naira

Cryptocurrency exchange giant Binance has delisted naira from its trading pairs following the Central Bank of Nigeria’s directive that banks close the accounts of traders.

Recall that the CBN last Friday banned commercial banks from faciltating transactions for crytocurrency traders, citing the need to maintain the credibility of the country’s financial system.

In a statement posted on its website, Binance advised users to transfer their peer-topper wallet for transactions.

“Binance will remove and cease trading on the following trading pairs at 2021-02-09 12:00 PM (UTC): BNB/NGN, BUSD/NGN, DOT/NGN, ETH/NGN, LINK/NGN, LTC/NGN, TRX/NGN, XRP/NGN.

Continuing, it said NGN is fiat currency and does not represent any other digital currencies, adding that cryptocurrency trading is subject to high market risk.

“Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses,” it advised traders.



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