The short answer to the question about Binance being banned in Nigeria is no. But I doubt you came here expecting the answer to be that simple. Binance has not been banned in Nigeria, but major changes since 2024 have made the platform much more difficult for Nigerians to use.
You can still access Binance, but some services are no longer available to Nigerian users, while others, including certain crypto activities, remain accessible. So, what exactly changed, what can Nigerians still do on the platform, and why do so many people believe Binance was banned? Let’s break it down.
What Happened to Binance in Nigeria?
Binance has been in an ongoing legal and regulatory dispute with the Nigerian government. It started in June 2023, when the Securities and Exchange Commission (SEC) advised Nigerians to stop using Binance because the platform was not registered or regulated in the country. The following month, the SEC returned with another warning, this time mentioning Binance’s website directly.
Then, in February 2024, Nigerian authorities restricted access to several crypto platforms because of concerns about the foreign exchange market. Two Binance executives who had travelled to Nigeria for discussions with government officials were also detained. At that point, the situation had escalated beyond a warning about an unregistered platform.
For Nigerian users, though, the change we could all actually feel came in March 2024, when Binance discontinued its naira-related services. The situation has continued to develop since then. In April 2026, the Central Bank of Nigeria (CBN) concluded its testimony in an ongoing case involving Binance, maintaining that the platform carried out unauthorised operations in Nigeria.
Meanwhile, a separate tax case was still being discussed for an out-of-court settlement as of July 2026.
Is Binance Still Working in Nigeria?
Yes, Binance is still working in Nigeria, but there are important limits to what you can and cannot do on the platform. Let’s take a look at them:
1. What Still Works on Binance
- You can still hold supported cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDT, and USDC in your Binance account.
- Crypto deposits still work, so you can transfer supported cryptocurrencies into your Binance account from another wallet or platform.
- You can withdraw supported cryptocurrencies to another crypto wallet or compatible platform, such as the Pouchers stablecoin wallet.
- Crypto-to-crypto trading still works for the trading pairs available on your account.
- You can still access Binance P2P.
2. What No Longer Works for Nigerian Users
- You can no longer deposit Naira into your Binance account.
- Direct Naira withdrawals are no longer supported, so you cannot withdraw Naira from Binance to a Nigerian bank account.
- Buying or selling crypto with Naira through Binance P2P is no longer possible.
- Naira is no longer available in Binance trading pairs.
- NGN crypto conversions are also unavailable, so you cannot use Naira to directly convert between cryptocurrencies on Binance.
How Can Nigerians Still Use Binance?
You do not have to stop using Binance completely just because its Naira services are no longer available. You can still use the platform for the activities that remain available, then move your stablecoins to another platform when you need to spend, convert, or manage your money. One platform that can help with this is Pouchers.
How Pouchers is an Alternative to Binance
Pouchers is a fintech platform that fills the gap left by Binance’s discontinued NGN services in Nigeria. Binance no longer supports NGN deposits, withdrawals, or NGN trading on P2P, so Nigerian users need another way to move between their crypto and Naira. Pouchers provides that option by giving you a quick and secure way to receive USDT and USDC from Binance and move your funds beyond the exchange.
Binance’s Naira services were mainly about buying, selling, and moving money in naira. Pouchers goes beyond that by giving you more ways to manage your funds. You can:
1. Send your funds to a Nigerian bank account
Pouchers makes it possible for you to convert your USDT and USDC to Naira and send the funds directly to any Nigerian bank account. This gives you a way to turn your crypto into money you can use for everyday spending in Nigeria, even with Binance’s NGN services out of the picture.
2. Keep and Manage Your Money in Multiple Currencies
You do not have to convert your funds to naira as soon as they arrive. Pouchers is a multicurrency wallet that lets you hold and manage funds in supported currencies such as USD, EUR, GBP, and CAD, so you can keep your money in the currency you need for future expenses.
3. Fund a Virtual Dollar Card
Pouchers also provides you with a virtual dollar card that you can fund and use for online and international payments. It can come in handy for subscriptions such as Netflix and Spotify, digital services such as Google Play and Apple, and websites that may not accept a Naira card.
Frequently Asked Questions
1. Is Using Binance Legal in Nigeria?
Using Binance does not mean you will be arrested or fined simply for having a Binance account. However, Binance is not registered or regulated by the SEC in Nigeria, so you use the platform at your own risk and without the same level of protection that comes with using a platform registered with the SEC.
2. Did Binance Leave Nigeria?
Not completely. Binance discontinued its Nigerian naira services, but the platform still supports crypto-related activities such as crypto deposits and withdrawals, so Nigerian users can still use parts of the platform.
3. Can Nigerians Still Buy Crypto on Binance?
Yes, Nigerians can still buy supported cryptocurrencies on Binance, but Binance no longer supports buying crypto with naira through its former NGN services. The payment methods and currencies available to you depend on what Binance currently supports for your account and location.
4. Does Binance P2P Work in Nigeria?
Yes, Binance P2P still works, but Nigerian users can no longer use the marketplace to buy or sell crypto with Naira. Binance removed NGN trading pairs from its P2P marketplace in 2024, so access to P2P does not mean NGN P2P trading is still available.
5. Can I Withdraw Naira Directly From Binance to a Nigerian Bank Account?
No, you can no longer withdraw Naira directly from Binance to a Nigerian bank account. You need to move your supported crypto to another platform that supports naira conversion and local bank transfers.
6. What Is the Best Alternative to Binance in Nigeria?
The best alternative depends on what you need. If you mainly want to cash out your crypto to naira, Pouchers is the best option because you can receive USDT and USDC, convert them to naira, and send the funds to a Nigerian bank account.
Conclusion
Binance is not completely banned in Nigeria, but the platform Nigerians once knew has changed significantly. The removal of NGN deposits, withdrawals, and NGN P2P trading means you can no longer use Binance to move between crypto and naira the way you once could.
You can still use Binance for the crypto activities that remain available, including holding, trading, and withdrawing supported cryptocurrencies. The key is to understand the options available to you before moving your funds. When you are ready to explore those options, get started with Pouchers.
