Allegedly: CBN, EFCC Ordered Binance To Restrict Selling Above N1800/1$

[Igebotz]

As the topic says; The Nigeria government as usual is moving mad and this time they are going after independent Marchant on DEX in an attempt to save Naira Depreciation. Now it's difficult to BUY any assets above the fixed N1800 on Binance so traders are already moving back our old traditional Telegram and WhatsApp P2p. Just last week EFCC were shooting at black marketers at one Abuja market. Sometimes I wonder if those running the CBN and other financial institutions get basic economy degree at all.


I remembered 3 years ago the FG led by PMB went after the AbokiFX and the Naira kept deprecating afterwards. These are not solutions.

What do you guys think? De matter dey tire person for real.

[Igebotz]

Use KuCoin, OKX and Bybit for your P2P - avoid Binance they have betrayed all of us, they collaborating with the FG to ban any trader going above 1809/$.

[Cantsay]

Ehen, no wonder I enter binance yesterday see say no merchant get any active ads for usdt and the rest and the 2-3 merchants wey bring their own up were restricted.

The truth be say the people wey dey on top nor dey reason wetin their actions go cause, them go just wake up and do anything that comes to their mind - thank god say nor be only binance I for dey run my level if I see say I nor fit use Binance I go just jejely go another exchange run my business there.

[Sokani]

Can Nigerian government fix the exchange rate by attacking p2p traders on Binance so that the price doesn't go beyond N1,800? It looks like this administration doesn't know what they are doing. Even if they've success on Binance, what happen to other p2p trading trading platform like bisq.network, telegram and Whatsapp group? This is not a solution to the arrest the depreciating naira.

[Thyplaymaker]

Use KuCoin, OKX and Bybit for your P2P - avoid Binance they have betrayed all of us, they collaborating with the FG to ban any trader going above 1809/$.

they really think say nah only binance most of us dey use. Because of something like this binance go lose plenty customer, so I go other exchange selling with nice rate then I would nah sell mine on binance Nahhh. Thank God say me duh dey jejely dey adopt to bybit for my p2p dealings. And their rate still nice so am basing on there recently

[Igebotz]

Ehen, no wonder I enter binance yesterday see say no merchant get any active ads for usdt and the rest and the 2-3 merchants wey bring their own up were restricted.

The truth be say the people wey dey on top nor dey reason wetin their actions go cause, them go just wake up and do anything that comes to their mind - thank god say nor be only binance I for dey run my level if I see say I nor fit use Binance I go just jejely go another exchange run my business there.

The current black market rate is $1/N1900 but Binance Merchants are not allowed to to set Buy/sell beyond the N1800 market cap  that's why most sellers are moving to other exchanges..

Can Nigerian government fix the exchange rate by attacking p2p traders on Binance so that the price doesn't go beyond N1,800? It looks like this administration doesn't know what they are doing. Even if they've success on Binance, what happen to other p2p trading trading platform like bisq.network, telegram and Whatsapp group? This is not a solution to the arrest the depreciating naira.

It won't help the Naira but it would cause us a lot of inconvenience to trade and trading off P2P exchanges would increase scam and so on.

[Tribalchief]

As the topic says; The Nigeria government as usual is moving mad and this time they are going after independent Marchant on DEX in an attempt to save Naira Depreciation. Now it's difficult to BUY any assets above the fixed N1800 on Binance so traders are already moving back our old traditional Telegram and WhatsApp P2p. Just last week EFCC were shooting at black marketers at one Abuja market. Sometimes I wonder if those running the CBN and other financial institutions get basic economy degree at all.


I remembered 3 years ago the FG led by PMB went after the AbokiFX and the Naira kept deprecating afterwards. These are not solutions.

What do you guys think? De matter dey tire person for real.

Sadly, there is a shocking revelation that relieves that those in authority are also behind the depreciation of Nigeria naira. This is cra*y. The naira to dollar rate keeps increasing, and the government are forcing Binance Marchant to maintain a particular price. This is a massive disgrace, as this people don't have solutions, but uses other avenue as an excuse to their failure.

Thank God for the kind country wey we dey.

"Update no dey finish, because update is always up-to-date" - Dlaw

the struggling and hard working individuals Will always find a way out because we can't suffer for the mismanagement of old men.

[Sim_card]

Use KuCoin, OKX and Bybit for your P2P - avoid Binance they have betrayed all of us, they collaborating with the FG to ban any trader going above 1809/$.

Binance traders will run short of customers and they will have no option than to start selling at the normal price above 1800. So this was why when I tried selling some USDT yesterday, all the merchant canceled my order because of what FG told them. Why FG no tell Dangote to sell cement at 9k. The problem will still be there and Naira will keep on depreciating if the government don't start producing more goods than consuming. This our government self, una sure say them understand economics.

[SmartGold01]

As me dey always talk our country matta no be wetin pesin go put mouth because last time we see how them been dey worry binance say them go begin pay tax after that them con say na Binance dey cause why dollars dey surpress Naira meanwhile na same FG dey make dollars scase for bank whereby if you go bank you go hardly get am there instead them go reference you go meet aboki for street to buy dollars there. The official rate for bank fit be 1700 or lesser but them fit instruct those aboki to sell am 1900 making price to high and binance traders fit pick up that price aboki dey sell. Now tell me where binance dey at fault currently, is binance now out new president or is binance now controlling our economy?

[Cantsay]

Binance traders will run short of customers and they will have no option than to start selling at the normal price above 1800.

Most merchants you see on Binance also have accounts in several other exchanges. The reason why Binance is popular is because that's what most newbies use, and its also very easy to navigate. And since FG don decide to raise their ugly heads for Binance mata all merchants don disperse to their other exchanges (them don mention most of them already) and before you know everybody go relocate and if Fg still put mouth for the rest - nah to just run go DEX or dey run our local p2p the way men first take dey run am before the era of cex.

Can Nigerian government fix the exchange rate by attacking p2p traders on Binance so that the price doesn't go beyond N1,800? It looks like this administration doesn't know what they are doing. Even if they've success on Binance, what happen to other p2p trading trading platform like bisq.network, telegram and Whatsapp group? This is not a solution to the arrest the depreciating naira.

It obviously won`t have any effect. The only thing I believe this restriction will do is just stress those who have some coins that they want to sell and have never used any exchange before OR haven`t completed their KYC verification on any other exchange.

Naija Govt are always fond of neglecting the real issues or things that will bring bettermetn to the situation of the country and start attacking the little thigns that will have no effet on the economy. It`s pretty sad that these same people will still contest for power, and yet graduates and intellects in our society will still go to their polling unit and cast their vote for them despite knowing their incompetence.

[Fivestar4everMVP]

I see this information for news headline today morning and I was like "what is really wrong with the Nigerian government?, sometimes, I dey wonder na person do the government of this country wetin dey worry them.
Our naira dey depreciate, instead of them to work hard to improve our economy, which could be the solution to our naira's instability, they dey busy dey chase traders wey no be their fault say naira dey increase on daily basis.

Me Don sit down dey look to see where this fight go end, sometimes, I dey wonder how I manage end up in Nigeria 🤔

[Igebotz]

As the topic says; The Nigeria government as usual is moving mad and this time they are going after independent Marchant on DEX in an attempt to save Naira Depreciation. Now it's difficult to BUY any assets above the fixed N1800 on Binance so traders are already moving back our old traditional Telegram and WhatsApp P2p. Just last week EFCC were shooting at black marketers at one Abuja market. Sometimes I wonder if those running the CBN and other financial institutions get basic economy degree at all.


I remembered 3 years ago the FG led by PMB went after the AbokiFX and the Naira kept deprecating afterwards. These are not solutions.

What do you guys think? De matter dey tire person for real.

Sadly, there is a shocking revelation that relieves that those in authority are also behind the depreciation of Nigeria naira. This is cra*y. The naira to dollar rate keeps increasing, and the government are forcing Binance Marchant to maintain a particular price. This is a massive disgrace, as this people don't have solutions, but uses other avenue as an excuse to their failure.

The last administration spent the entire tenure chasing after AbokiFX and crypto, placing restrictions on Naira cards for international shopping and all and yet the problem wasn't solved. Until there is more dollar inside the bank and less dollar on the street and banks are allowed to sell to individuals, the Naira will keep dipping.

As me dey always talk our country matta no be wetin pesin go put mouth because last time we see how them been dey worry binance say them go begin pay tax after that them con say na Binance dey cause why dollars dey surpress Naira meanwhile na same FG dey make dollars scase for bank whereby if you go bank you go hardly get am there instead them go reference you go meet aboki for street to buy dollars there. The official rate for bank fit be 1700 or lesser but them fit instruct those aboki to sell am 1900 making price to high and binance traders fit pick up that price aboki dey sell. Now tell me where binance dey at fault currently, is binance now out new president or is binance now controlling our economy?

The rate was floated, no official rate.

[Hatchy]

Thank God for the kind country wey we dey.

"Update no dey finish, because update is always up-to-date" - Dlaw

the struggling and hard working individuals Will always find a way out because we can't suffer for the mismanagement of old men.

I swear my brother, that wan wey you talk sweet me well well for body o. No matter watin our government try take stop our progress, we go still survive. The government wey we get na the worst and a big disgrace to the country. They have no solution to our problems and keeps blaming others for their foolishness and inability to boost the country's economy. Watin concern binance traders and naira depreciation exactly? Make Dem dey play Sha. As you talk am, update no dey finish

[DaNNy001]

Ehen, no wonder I enter binance yesterday see say no merchant get any active ads for usdt and the rest and the 2-3 merchants wey bring their own up were restricted.

The truth be say the people wey dey on top nor dey reason wetin their actions go cause, them go just wake up and do anything that comes to their mind - thank god say nor be only binance I for dey run my level if I see say I nor fit use Binance I go just jejely go another exchange run my business there.

My brother no be small oo, if to say I no come hear this thing hear I for really know watin dey sup because the thing shock me as I see how vendor price for binance just go down so drastically and I be wan even ask this question about people actually noticing this because as I enter my bybit exchange the price was really different where as na binance rate before dey always dey ontop but for now e come be the opposite. Well as you talk am na so the matter go be because men get other exchanges to trade coins so na binance go only lose their customers because we go always go where the rate is sweet and okay.

[Igebotz]

The Naira is currently stable now, the temporary solution simply creates buying dip opportunities, hope you guys are taking advantage of this to stack more dollar? Arresting BDC and and limiting access to Binance and other CEX is only a temporary solution. We all know what happened after AbokiFX was sized two years ago and what happened afterwards.