Binance Drops Naira From P2P Portal - Business

Binance Drops Naira From P2P Portal - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Binance Drops Naira From P2P Portal (38261 Views)

Binance Drops Naira From P2P Portal by nlfpmod(mod): 6:25pm On Feb 28, 2024

Amid President Bola Tinubu’s government’s clampdown on cryptocurrency to save the battered naira, the world’s biggest cryptocurrency trading platform, Binance, has disabled its peer-to-peer function for Nigerian users.

Peer-to-peer function, popularly known as P2P, allows users, buyers and sellers to trade without third-party interference.

It allowed Nigerian users to trade when former President Muhammadu Buhari banned cryptocurrency in 2021.

With the disabling of the P2P function for Nigerian users, Nigerians might no longer trade on Binance.

People Gazette also noticed that the Nigerian currency was unavailable on Binance on Wednesday.

These follow Olayemi Cardoso, Central Bank of Nigeria governor, saying over $26 billion passed through Binance in the past year on Tuesday at the Monetary Policy Committee (MPC) meeting in Abuja.

Last week, Binance confirmed it was working with Tinubu-led to block dollar-naira trading on the platform.

The cryptocurrency platform also confirmed that its website had been blocked, noting that its app was still functioning for users to access the platform.

In the past week, federal authorities clamped down on cryptocurrency platforms while raiding bureaux de change nationwide to stabilise the free-falling naira.

https://gazettengr.com/binance-disables-p2p-function-amid-clampdown-from-nigerian-authorities/

20 Likes 2 Shares

Re: Binance Drops Naira From P2P Portal by VeryWickedMan: 6:27pm On Feb 28, 2024

OP Naira is still there. Search well.
It's just been rebranded to Shege (SHG).

230 Likes 17 Shares

Re: Binance Drops Naira From P2P Portal by tefishy(m): 6:31pm On Feb 28, 2024

1usd = 1 naira in few days with this outcome

cheesy

16 Likes 1 Share

Re: Binance Drops Naira From P2P Portal by Jeon(f): 6:31pm On Feb 28, 2024

Omoh, see crashing.

Well ,Nigeria, is unpredictable.

25 Likes 2 Shares

Re: Binance Drops Naira From P2P Portal by Perfectman91: 6:32pm On Feb 28, 2024

Sad, just when I thought of joining binance

9 Likes

Re: Binance Drops Naira From P2P Portal by Newton1045: 6:32pm On Feb 28, 2024

E concern them

1 Like

Re: Binance Drops Naira From P2P Portal by paragon40(m): 6:32pm On Feb 28, 2024

Cardoso you do this one grin

41 Likes 1 Share

Re: Binance Drops Naira From P2P Portal by Nobody: 6:32pm On Feb 28, 2024

VeryWickedMan:
OP Naira is still there. Search well.
It's just been rebranded to Shege (SHG).

25 Likes 1 Share

Re: Binance Drops Naira From P2P Portal by Chidimercy: 6:32pm On Feb 28, 2024

Which way out?

1 Like 1 Share

Re: Binance Drops Naira From P2P Portal by AllTheWayUp: 6:32pm On Feb 28, 2024

The Great Tinubulation continues

8 Likes 1 Share

Re: Binance Drops Naira From P2P Portal by Matinox: 6:32pm On Feb 28, 2024

It's even more painful to think that come 4 years, Nigerians will still fight for another fool to be president for reasons far below competency and integrity

85 Likes 7 Shares

Re: Binance Drops Naira From P2P Portal by Thinktwicemybro: 6:32pm On Feb 28, 2024

Rubber of rice is still #7000

18 Likes

Re: Binance Drops Naira From P2P Portal by Solofresh2: 6:32pm On Feb 28, 2024

Even Binance fear Tinubu lol

20 Likes 4 Shares

Re: Binance Drops Naira From P2P Portal by sonofthunder: 6:32pm On Feb 28, 2024

nlfpmod:
https://gazettengr.com/binance-disables-p2p-function-amid-clampdown-from-nigerian-authorities/

So what does this signify and what are the alternatives for Nigerians that already have crypto currencies?

1 Like

Re: Binance Drops Naira From P2P Portal by BannedUser: 6:33pm On Feb 28, 2024

Hmm

1 Like

Re: Binance Drops Naira From P2P Portal by DIVINEEVIDENCE: 6:33pm On Feb 28, 2024

Broom! Broom! Broooooom!
(Applause)

Come 2027, una go realise the importance of election debates and issue-based campaigns.

37 Likes 3 Shares

Re: Binance Drops Naira From P2P Portal by juwoonn(m): 6:33pm On Feb 28, 2024

Wooh
O ti sun mi
Oti wa de oju e bayi

3 Likes 1 Share

Re: Binance Drops Naira From P2P Portal by Mopolchi: 6:33pm On Feb 28, 2024

NGN is now SGH which means Shege Banza

23 Likes 3 Shares

Re: Binance Drops Naira From P2P Portal by Validated: 6:33pm On Feb 28, 2024

VeryWickedMan:
OP Naira is still there. Search well.
It's just been rebranded to Shege (SHG).

Mad people full NL abeg.🤣🤣

77 Likes 7 Shares

Re: Binance Drops Naira From P2P Portal by funmike83(f): 6:33pm On Feb 28, 2024

Oh no

1 Like

Re: Binance Drops Naira From P2P Portal by Helpfromabove1(m): 6:34pm On Feb 28, 2024

Hope all this gra gra will not just work for awhile and later naira will fall to 2,500 to a dollars because I’m Nigeria prices don come down , it’s continuous go up

12 Likes 3 Shares

Re: Binance Drops Naira From P2P Portal by SensualMan: 6:34pm On Feb 28, 2024

OK... Some have food...
Some can eat but have no food...

14 Likes 2 Shares

Re: Binance Drops Naira From P2P Portal by Kobicove(m): 6:34pm On Feb 28, 2024

Wahala for P2P merchants

27 Likes

Re: Binance Drops Naira From P2P Portal by Peledonomy: 6:34pm On Feb 28, 2024

Nlfpmod. I see u

Re: Binance Drops Naira From P2P Portal by omron(m): 6:34pm On Feb 28, 2024

Chai. I am going to relocate to another country. I will leave nigeria for Una. TINUBU Tinubu GOD PASS YOU THIS IS WHAT SOME UNEMPLOYED NIGERIAN YOUTHS DO TO SURVIVE NOW U BANNED IT WE WIL PRAY TO ALMIGHTY GOD TO FIGHT OUR CAUSE. REMEMBER WHAT HAPPENED TO ABACHA GOD FOUGHT FOR US

24 Likes 3 Shares

Re: Binance Drops Naira From P2P Portal by muzically(m): 6:35pm On Feb 28, 2024

Waohhh!
Any small relief from shege is being blocked. We're in a blackhole. No escape

That's was the only way i could get money easily from my album streams.

16 Likes

Re: Binance Drops Naira From P2P Portal by Jeon(f): 6:35pm On Feb 28, 2024

Perfectman91:
Sad, just when I thought of joining binance

Same as I.

7 Likes 2 Shares

Re: Binance Drops Naira From P2P Portal by FocusedDiva(f): 6:35pm On Feb 28, 2024

Anything to stabilize and strengthen Nigerian economy is welcome.
The suffering is becoming unbearable 💔

43 Likes 2 Shares

Re: Binance Drops Naira From P2P Portal by Sunisonflex39(m): 6:35pm On Feb 28, 2024

Omo..e be like naira will be 1200 in two days

11 Likes 1 Share

Re: Binance Drops Naira From P2P Portal by Lucasinho(m): 6:35pm On Feb 28, 2024

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