In a recent announcement, Binance, a leading cryptocurrency exchange, has revealed its decision to discontinue all Nigerian Naira (NGN) services according to a specified timeline.
Nigerian users are urged to take necessary actions before the outlined deadlines to manage their NGN assets effectively. Here are the key points highlighted in the announcement:
Withdrawals and Conversions: NGN withdrawals will not be supported after 2024-03-08 07:00 a.m. Any remaining NGN balances in users’ Binance accounts after 2024-03-08 08:00 (UTC) will be automatically converted to USDT.
Deposits: Binance will cease support for NGN deposits after 2024-03-05 02:00 p.m.
Spot Trading: All existing NGN spot trading pairs will be delisted at 2024-03-07 03:00 a.m., and open spot orders will be closed automatically.
Binance Convert and P2P: NGN and all corresponding pairs will be delisted from Binance Convert and Binance P2P at 2024-03-07 03:00 a.m. and 2024-02-28 4:00 p.m, respectively.
Auto-Invest and Binance Pay: Binance Auto-Invest will delist NGN after 2024-03-06 at 04:00 a.m., and NGN will be removed from the list of supported payment options on Binance Pay simultaneously.