Breaking: Crypto Exchange OKX Ceases Operations In Nigeria

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Crypto exchange OKX has announced an exit from Nigeria citing local laws amid a recent clampdown on digital assets services in the country. This adds to the ongoing regulatory debacle faced by crypto companies in the Nigerian market. The exchange has issued instructions to users as its local entity winds down operations.

OKX Is Leaving Nigeria

In a July 17 email sent to customers, OKX informed users of the discontinuation of services in Nigeria after accessing local policies. From August 16, OKX customers will no longer be able to open new trading positions or access services in the country. However, users will be able to withdraw and close open positions.

“We are discontinuing OKX services in Nigeria after recent changes in local laws and regulations. This is based on our ongoing assessment of policies in each market we serve.”

The exchange further highlighted steps for Nigerian users to review accounts before Aug 16.

This is a developing story.

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