Cryptocurrency exchange, OKX, has announced plans to discontinue its services in Nigeria, citing recent changes in local laws and regulations.
A statement by the exchange sent directly to its users on Wednesday said this decision was based on its ongoing assessment of policies in the markets it serves.
βWe are discontinuing OKX services in Nigeria after recent changes in local laws and regulations.
βFrom 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,β 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 βwill only be able to withdraw your assets; you will not be able to deposit or transact otherwise.β
βWhile 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.
βAfter 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,β the statement concluded.
More Stories
CBN: Nigeria spent $3.5bn to service foreign debt in nine months
Power sector needs $10bn investment for 24-hour electricity, says Adelabu
PETROAN faults Dangote on PMS price, says cost of production now less than N600/litreΒ