Tapswap Gives Update Amidst Alleged Ban on Nigerians

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Tapswap, a cryptocurrency mining company, has provided further information regarding the recent reports suggesting that Nigerians have been prohibited from using their app.

The company addressed the challenges faced by Nigerians when attempting to access the Telegram coin mining app.

In a statement released on Friday, May 24, Tapswap clarified that they do not intend to ban Nigerian users and explained that the access problems were due to technical difficulties.

“Dear Nigerian community. We’ve heard concerns about limiting access to users from your country, but we want to clarify that this is not the case. We had to enable verification for the region from where DDoS attacks were initiated.
“As promised, we will disable this once our infrastructure is fully adapted. “We deeply appreciate every member of our community from all around the world and always welcome you here. Thank you for your understanding and support.”
See comments below:
ojehstephen stated: “Nigerians are your biggest supporters. Know this and know peace.”
love_ibanga opined: “All these ones na story. Make my tap tap no lost o. I don invest emotions already.”
winifred1_ articulated: “My fingers now tap tap on their own without my permission.”
smart_ech declared: “Me holding my hands now cause it’s already used to tapping, please rectify it fast, I cant hold it any longer.”

Recall that Nigeria has increased its attempts to control cryptocurrency exchanges, resulting in the detention of two top Binance officials.

The executives traveled to Nigeria after the government banned multiple cryptocurrency trading websites last week, but they were held by the office of the country’s national security adviser and their passports were confiscated, according to a story on the Reuters website.

The ban comes after multiple cryptocurrency websites emerged as popular trading venues for Nigeria’s currency, which has been plagued by chronic dollar shortages.

The naira’s official exchange rate has been trading near the parallel market level since the currency was weakened last month, the second adjustment in less than a year.

Nigeria has been battling debilitating dollar shortages, which have pushed its currency to historic lows after foreign investors withdrew following a previous oil price crash and the imposition of capital controls in 2015.

At a news conference on Tuesday, Nigeria’s central bank governor, Olayemi Cardoso, mentioned Binance while addressing the movement of cash through cryptocurrency exchanges.

“We are concerned that certain practices go on that indicate illicit flows going through a number of these entities [crypto platforms] and suspicious flows at best,” Cardoso told reporters.

“In the case of Binance, in the last one year alone, $26bn has passed through Binance Nigeria from sources and users who we cannot adequately identify,” he added.

Cardoso stated that Nigeria’s anti-corruption agency, police, and national security adviser were coordinating an inquiry into bitcoin exchanges. According to a person familiar with the case, the authorities have been requesting a list of Binance’s Nigerian users since its start.

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