Coinbase CEO Says No Access Block in Nigeria, Platform Operating Normally
Coinbase CEO Brian Armstrong has dismissed reports of his cryptocurrency exchange being blocked by Nigerian authorities.
He emphasized that Coinbase products are fully operational in Nigeria without any interruptions. “We have not received any outreach or communication from officials in Nigeria,” the Coinbase executive affirmed.
Meanwhile, Binance has reportedly admitted that some users in Nigeria are experiencing issues accessing its platform.
Coinbase Says Exchange Still Operational in Nigeria
Coinbase CEO Brian Armstrong addressed reports of blocked crypto exchanges in Nigeria on social media platform X Friday. The Nigerian Communications Commission (NCC) reportedly issued an order on Wednesday, instructing telecoms companies to restrict consumer access to the websites of major crypto exchanges, such as Binance, Coinbase, and Kraken.
Armstrong explained that the reports concerning Coinbase are “inaccurate” as far as he can tell, emphasizing that Coinbase products are still operating without any interruptions. Furthermore, the Coinbase boss shared that his company has not received any outreach or communication from officials in Nigeria.
Meanwhile, Binance has confirmed to Bloomberg News that some users in Nigeria are experiencing issues accessing its platform. Nonetheless, the crypto exchange’s spokesperson stressed that “users’ funds are secure.”
On Wednesday, Bayo Onanuga, a special adviser to Nigerian President Bola Ahmed Tinubu, accused Binance in a post on X of “blatantly setting exchange rate for Nigeria” and “hijacking CBN [Central Bank of Nigeria] role.” He added: “Binance, facing regulatory showdown in many countries, and causing disruptions in the currency market, should not be allowed to dictate the value of the Naira, not on its crypto exchange platform.” Onanuga stressed:
Crypto should be banned in our country or else this bleeding of our currency will continue unabated.