Binance, the world’s largest cryptocurrency company, has begun suspending all transactions involving Nigeria’s local currency amid an ongoing dispute with authorities.
The Nigerian government accused the company of manipulating exchange rates and devaluing the naira.
The central bank governor also claimed that crypto companies are being used for money laundering.
Last week, Binance officials demanded compensation of around $10bn (£8bn).
With the devaluation of the naira, many Nigerians are looking at crypto exchanges as a way to protect their savings.