Binance Exit from Nigeria Set to Have Significant Impact on Revenue of Internet Service Providers

According to IT expert Professor Haruna Chiroma, the withdrawal of Binance from Nigeria is predicted to significantly impact the revenue of Internet service providers in the country.

Chiroma, a lecturer at Hafr Al-Batin University in Saudi Arabia, mentioned that the government’s actions against Binance could lead to a decrease in web traffic for Internet service providers. This is because the crackdown may cause a reduction in the demand for high volumes of data.

“From the perspective of the IT, the Binance is crypto platform build on the blockchain technologies, thus, crackdown on the Binance can reduce the growth of blockchain technology in Nigeria. Internet service providers networks can witness low traffic as demand for large volume of data will reduce as a result of the crackdown”,

“The major transactions and other activities related to the crypto is in the cyberspace. Therefore, the user/customer only need to change location from Nigeria through private network on the public network such as the VPN to continue with the transactions in the cyberspace. For now no systematic approach to completely stop crypto, the best other countries do is to stop access to such platforms from their cyberspace.” He said.

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