OKX stops services to Nigerians

You may have heard that OKX no longer wants to render services to Nigerians.

“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.

From August 16, 2024, our customers will no longer be able to open any new positions or access any services on the platform, with the exception of withdrawals and closing/redemption of open positions.

We request you to please review your account and complete applicable steps by 12:00 am (PST) on August 16, 2024.” – OKX Management.

Why this?
Nigerian government severely persecutes and punishes Binance, but Binance doesn’t stop its services to Nigerians except P2P and Naira trading.

Even KuCoin that has started deducting taxes from trading and transactional activities from Nigerians, on behalf of the government, cannot have its website accessed in Nigeria.

Nigeria government want to collect taxes from people’s trading and transactional activities but they don’t want them to access the website in the country. If not for the fact that the exchanges mobile apps can be used with ease, I would have easily, simply left this country.

The biggest, wealthiest and most technologically advanced nations in the world (plus world leaders and global celebrities) are acknowledging, approving, and regulating crypto industry and products and taking necessary favorable steps. However, Nigerian government is trying to kill crypto in their own country.

But crypto cannot be killed.

They say people are using crypto for money-laundry and illegal things. Bitcoin, the first and the most popular crypto coin, is only 15 years old. 

General Abacha and other military administrators looted a lot of money and sent it abroad. Did they do that through crypto?

Those who looted public funds before Abacha didn’t use crypto. Those who engaged in slave trade and other illegal things in the 19^th century didn’t use crypto. Those who siphoned government funds between 1999 and 2007 didn’t use crypto.

If crypto didn’t exist today, people in this country would still be laundering funds and doing illegal business activities with means available to them. In fact, in Nigeria, Naira is used more in illegal activities than crypto.

But the government think the cure for headache is to cut off the head. They could simply ban computers and smartphones in the country because some people are using them for bad things. They can ban churches, owing to the atrocities of some pastors?

Don’t they know that crypto has lots of beneficial and legitimate uses? And they need to stop crypto because of some bad actors?

This is a losing battle. Crypto is an integral part of the future.

The whole world has moved on!

Crypto doesn’t cause inflation
Go and listen to those old school songs from popular singers dead and alive. Or ask your parents or grandparents… They also complained of inflation in their lifetime.

Without inflation, all forms of investments cannot yield profits in the long run and the economy won’t grow.

What made it possible for someone who bought a piece of land for N50K about 35years ago, to sell it at N10 million today, if there was no inflation? Or do you think the prices for building materials 35 years ago are the same now?

But the inflation rate has to be normal.

Rapid inflation is an economic phenomenon… It is bound to happen when an economy is bad, demand is huge and supply is low. The only way to slow the inflation rate (no government in the world can stop inflation) is to improve the economy, increase supply and/or decrease demand.

Inflation is as old as trading itself, and it has nothing to do with crypto.

Back to OKX
OKX is currently the 3^rd biggest exchange in the world, by trading volume. They are excellent. But they are not the only excellent exchanges out there.

Actually they don’t accept citizens of the US and Canada. They don’t accept nationals from certain countries in Europe, Asia and Latin America.

Even their plan to discontinue services to certain countries includes not only Nigeria, but other countries in Africa (like Algeria), the Middle East and Asia. They have already left India.

If they say they don’t want Nigerians again, there are exchanges that are even nearly better than them.

As I always tell you, unless a woman tries 2 different husbands, she can’t know who is better or worse.

There are other excellent crypto exchanges out there, and I can tell you, moving out of OKX is as easy as moving into another good exchange.

 To see our current rates, please visit www.ituglobalfx.com.ng

 

To get free, winning Forex signals, please visit: www.predictmag.com

More on why we left 9Mobile

Last week we told you the reasons why we ported from 9Mobile (Etisalat) to MTN.

The article is here: https://ituglobalfx.com.ng/blog/posts/why-we-left-9mobile-network

Well, many 9Mobile customers simply stopped using their SIMs.

But if your 9Mobile SIM is important to you, you may want to retain that number while you migrate to another network.

Yes, you would lose all the info and data on the SIM (and that emphasizes why you need to back up your info), but you would retain your number.

My 9mibile numbers are important to me, just as others find their phone numbers important to them as well, and that is why the numbers needed to be retained.

For you to keep your business integrity, your contact details (including your phone numbers), must remain the same and must be constant, as long as possible. Otherwise, your legitimacy and integrity will be questioned.

Changing contact details and phone numbers often and often is one of the red signals/warning signs of fraudulent groups and scams. Anyone who usually changes their phone numbers should be suspected or avoided.

Don’t deal with any purported individual, group organization, or business who occasionally change their phone numbers, tabling flimsy alibis. They will change their phone number after they have scammed you.

Going back to 9Mobile, I was really getting nuts because I was their customer. I couldn’t use data, call, and even SMS.

Even when their services were better, I would sometimes need to walk out of the building before I could receive calls or send SMS. Imagine a situation in which you couldn’t even use a service while in the comfort of a building, and you had to walk out into the sun or the rain or into an unwelcoming crowd, just because you wanted to use a service.

While using a 9Mobile SIM for transactional purposes, I couldn’t even get codes to log in to important accounts or complete crucial transactions… Is that the network I should continue staying with?

I loved 9Mobile (formerly Etisalat) so much, and I endured many painful service experiences with them for more than 3 years (and I was their customer for 13 years). But enough is enough.



After all, their services aren’t free.

Until a woman tries to find a different husband, she can’t know who one is better. She may think her husband is good until she discovers a better man. She may think her husband is bad until she discovers a worse man. But she cannot know a better or a worse man until she makes an attempt to go into another relationship.

My relationship with 9Mobile has ended, though I still love them. MTN has a more stable network and wider coverage. That is a fact.

What’s happening to 9Mobile is painful to me. When even some members of staff are porting their numbers to another network, then, time up.

Changing their CEO is simply a comedy because there is no magic that could be done again. The only solution is to sell the company, to foreign or local investors, so that they won’t go the way of Starcomms.

You can get free signals here: https://t.me/predictmag

Why we left 9Mobile network

Why I didn’t use MTN

9Mobile (formerly Etisalat), is a telephone service provider whose beginning in Nigeria I watched with interest.

They started well, and I loved their services and customer support system.

I’m also a user of Glo and Airtel. I didn’t want to use MTN because they first refused per-second billing in Nigeria and sold their SIM cards at extremely exorbitant prices.

Imagine using N40,000 or N36,000 to buy a SIM card then. N36,000 then was more valuable than N500,000 nowadays.

When Glo began their operations, they started with per-second billing and gave their SIM cards almost free (If you bought a SIM for N5,000, you got N5,000 credit).

That was when MTN also started per-second billing and crashed the cost of their SIM cards since there has been a formidable competitor.

I now laugh at myself… I didn’t want to use a South African telephony service but I go to ShopRite, and also subscribe to GoTV and DsTV…. Didn’t they originate in South Africa?

9Mobile woes

Let me go back to 9mobile.

Etisalat left Nigeria because of serious management and financial issues, and the company was taken over by their creditors and the name was changed to 9Mobile.

Since then, they have been shrinking. Network services go off and on. Masts get switched off and/or vandalized, and casual and contract workers not getting paid for months. Serious managerial and financial issues.

In the past, if I went outside Lagos, to Osun, Ogun, or Oyo, I saw there was a large area not covered by 9Mobile. But anytime I came back to Lagos, I was able to use my 9Mobile SIMs.

Now, 9Mobile services have even disappeared in some areas of Lagos, where there used to be network

If they couldn’t expand the area they covered, at least, they could maintain the currently covered area… Instead, they are even losing the little area they covered.

Or what is the essence of buying data you can’t use? Calls cannot be made. SMS can’t even be sent. Relationships and businesses are being affected.

Many former 9mobile subscribers have stopped using their services, including some of their staff.

What’s happening to 9mobile now is reminiscent of what happened to Starcomms many years ago: the area covered began to disappear, the network was failing, and they collapsed.

The only way for 9Mobile to survive now is to put up themselves for sale, to foreign or local buyers. Otherwise, they’re going the way of Starcomms.

The handwriting is already on the wall.



My porting experience
Even porting to MTN should be a smooth experience but there was an issue because I couldn’t even send “PORT” to 3232. That was how bad the Etisalat network was.

Another reason why I was afraid to use MTN was because of the reports from people that their offices were often overcrowded and the staff in those offices were not helpful.  

I have found out myself that the reports were simply untrue…. I have visited 2 or 3 MTN offices and I have seen that those complaints are myths. You can go to their offices and see for yourself.

MTN currently has the best telephony technology in Nigeria.

Lessons to be learned
If you can’t beat them, you join them.

I swore never to have anything with MTN, save Glo, Airtel, and 9Mobile. But because of circumstances, I was forced to go to MTN and I must confess I now have peace of mind.

Tulaasi la fi n feran Sango.

Meaning: It’s by force that you must fear the god of thunder.

When 9Mobile was frustrating me and making life difficult for me, I had to run to MTN (I don’t want to rely on Glo and Airtel alone), and I’m enjoying the MTN experience.

You say you can’t eat your enemy’s foods, and your friend has refused to give you food… Do you want to die of hunger?

You may consider someone your adversary and the person may not even consider themselves your adversary.

If you’ve been destined to partner/cooperate with a group or an individual, you may end up hurting yourself if you refuse to partner with them, owing to unfounded hatred.

Leave a toxic affair/association/relationship.

If your affair/association/relationship with someone, a group, a company, an organization, or anybody is bringing you constant headaches, heartaches, frustrations, problems, disagreements, high BP, losses, anxiety, sorrow, regrets, etc., QUIT. Otherwise, you would end up being a losing fool.

Quitting a toxic relationship is the first step in improving your life.

You can get free signals here: https://t.me/predictmag