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Binance to Discontinue All Nigerian Naira (NGN) Services Fellow Binancians, Binance will discontinue all Nigerian Naira (NGN) services as per the timeline below. Users are encouraged to withdraw NGN, trade their NGN assets or convert NGN into crypto prior to the discontinuation of these NGN services. From 2024-03-08 08:00 (UTC), any remaining NGN balances in users’ Binance accounts will be automatically converted to USDT based on the conversion rate below. Deposits, Withdrawals and Conversions: Binance will not support deposits of NGN after 2024-03-05 14:00 (UTC). Withdrawals of NGN will not be supported after 2024-03-08 06:00 (UTC). After 2024-03-08 08:00 (UTC), Binance will convert any remaining NGN balances in users’ Spot and Funding wallets into USDT on behalf of users at a ratio of 1 USDT = 1,515.13 NGN. Please note that the conversion rate is calculated based on the average closing price of the USDT/NGN trading pair on Binance Spot in the last seven days. The conversion may take approximately up to 24 hours or longer. USDT tokens will be credited to users’ Spot wallets thereafter, and users can confirm receipt of the tokens via the Convert History page. If users hold less than 0.00000001 USDT worth of NGN in their Spot and Funding wallets, they will each receive 0.00000001 USDT in their Spot wallets after the conversion. Spot: Binance will delist all existing NGN spot trading pairs (i.e., BTC/NGN and USDT/NGN) at 2024-03-07 03:00 (UTC). All open spot orders with respect to the above trading pairs will automatically be closed when trading ceases in the relevant trading pair. Users should ensure they have not selected “Hide Small Balances” in all of their wallets to view their assets after trading ceases. Convert: Binance Convert will delist NGN and all corresponding pairs at 2024-03-07 02:00 (UTC). Binance P2P: Binance P2P delisted all NGN trading pairs at 2024-02-28 15:00 (UTC).

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Withdrawal of Fiat is still 100% possible on Binance. Do you wish to know how? Like & Retweet if you wish to know You need to convert your USDT to NGN using Spot. Search for USDT/ NGN and sell your USDT to NGN. 1. Select NGN in your spot balance. 2. Choose the withdraw option. 3. Input your bank account details for payment. 4. Note ⚠️⚠️: Confirm receipt of funds only after verifying. 5. Note that there's a reasonable merchant fee attached. 6. The rate has a spread of 20-30 NGN difference from the official rate.

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⚠️ Binance Shocks Users: Nigerian Naira (NGN) Removed from P2P Feature ⚠️ In a startling move, Binance has pulled the plug on Nigerian Naira (NGN) transactions within its P2P feature. 🇳🇬 This decision follows accusations from the Nigerian government, blaming Binance for exacerbating the devaluation of the Naira. Presidential advisor "Bayo Onanuga" has issued stern warnings, cautioning that Binance's actions could spell economic disaster for Nigeria if left unchecked. 💼 Additionally, the government has levied a staggering $10 billion fine on Binance, labeling its transactions as illegal. This unprecedented development has sent shockwaves through the cryptocurrency community, raising concerns about the intersection of global finance and national sovereignty. 🌍 With Binance facing mounting pressure from regulators, the future of crypto in Nigeria hangs in the balance. Stay tuned for further updates as this story unfolds, and brace yourself for potential ripple effects across the crypto landscape. 💥 #Portal #BTC #BONK

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