Binance announces the suspension of all Nigerian Naira services

ChainCatcher news, according to the official announcement, Binance has announced the cessation of all Nigerian Naira (NGN) services. Starting from March 8, 2024, 08:00 (UTC), any remaining NGN balance in users' Binance accounts will be automatically converted to USDT at the following exchange rate. Deposits, withdrawals, and conversions:

• After March 5, 2024, 14:00 (UTC), Binance will no longer support NGN deposits.

• After March 8, 2024, 06:00 (UTC), NGN withdrawals will no longer be supported.

• After March 8, 2024, 08:00 (UTC), Binance will convert the remaining NGN balance in users' spot wallets and funding wallets to USDT at a rate of 1 USDT = 1,515.13 NGN on behalf of the users.