English>

Market News

Crypto exchange, OKX, discontinues services in Nigeria - PUNCH

JULY 17, 2024

By Okiki Adeduyite

Cryptocurrency exchange, OKX, has announced plans to discontinue its services in Nigeria, citing recent changes in local laws and regulations.

The exchange, in a statement sent directly to its users on Wednesday, said this decision was based on its ongoing assessment of policies in the markets it serves.

“We are discontinuing OKX services in Nigeria after recent changes in local laws and regulations.

“From August 16, 2024, our customers will no longer be able to open any new positions or access any services on the platform, with the exception of withdrawals and closing/redemption of open positions,” the statement read.

OKX asked its users to review their accounts and provided steps to retrieve their assets.

The company said from August 16, users “will only be able to withdraw your assets; you will not be able to deposit or transact otherwise.”

“While your funds remain secure and accessible in your account, we highly encourage you to withdraw them to your private wallet or your accounts on other third-party platforms by 12:00 am (PST) on August 30, 2024.

“After August 30, 2024, you will have to reach out to our customer service teams for any account related actions. We strongly encourage you to withdraw or transfer funds prior to this date, as remaining balances may be subject to further restrictions in accordance with our Terms of Service along with local laws,” the statement concluded.

SEE HOW MUCH YOU GET IF YOU SELL

NGN
This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics