Still, on Binance, other crypto enthusiasts called for calm and urged Nigerians to change their Naira balance to USDT (Tether) stablecoin on the platform in a bid to be careful against CBN prohibited deposits.
Do not deposit naira again on Binance
Immediately swap your naira for USDT if you have naira balance
Do not sell your crypto assets in panic.
It's a global trading system that CANNOT be affected by Nigeria CBN policies.
Decentralized Finance is the future.
You can't stop it!
On the policy side, Nigerians faulted the CBN directive, saying there is no logical reason to prohibit crypto enabled transactions, as the directive appears to contravene the Buhari-led administration’s promise to lift 100 million Nigerians out of poverty.