Global cryptocurrency exchange OKX is winding down services in Nigeria as of Aug. 30, a company spokesperson told The Block in an email.

"OKX is committed to adhering to the applicable rules and regulations of all jurisdictions in which we strive to offer services," an OKX spokesperson said in a statement. "Due to local laws and regulations, we notified local customers that we would no longer offer services to customers in Nigeria from August 30."

OKX customers in Nigeria will be barred from accessing their accounts from the stated date, while the exchange noted that their funds remain secure.

This comes after the crypto trading platform halted withdrawal services for the Nigerian Naira in May as the country tightened regulatory scrutiny on Binance and other centralized exchanges. …