Binance delists five cryptocurrencies

Binance, the world’s largest cryptocurrency exchange, has announced the delisting of five digital assets after a routine review of their adherence to industry standards.

According to a statement released by Binance, the affected cryptocurrencies include Aergo (AERGO), AirSwap (AST), BurgerCities (BURGER), COMBO (COMBO), and Linear Finance (LINA).

The decision was based on several key factors, including trading volume, security, liquidity, the commitment of project teams, and compliance with regulatory requirements.

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The company said this step, aimed at maintaining a robust and transparent trading environment, shows Binance’s commitment to ensuring that all listed assets align with the platform’s evolving criteria.

“These projects no longer meet the platform’s listing requirements,” Binance noted in its internal review. As a result, these tokens will be removed from all spot trading pairs starting March 28, 2025, at 3:00 a.m. UTC.

The exchange has advised users holding these assets to take appropriate steps to manage their portfolios ahead of the delisting deadline.

Key delisting details and user guidelines 

Binance provided additional clarity on how the delisting process will impact its users:

• Binance Futures: Positions for AERGO, LINA, and COMBO will be automatically closed and settled by March 27, 2025, at 9:00 a.m. UTC.
• Binance Simple Earn & Investment Products: The affected tokens will no longer be available across these services after March 27, 2025.
• Binance Convert & Trading Bots: Support for the delisted tokens will cease by March 28, 2025.

Binance also mentioned that in some instances, delisted tokens might be converted into stablecoins on behalf of users after delivery. However, the exchange clarified that this would only apply if explicitly announced.

Looking ahead, Binance revealed plans to launch a Vote to Delist feature, enabling the public to suggest assets for delisting in the future. However, the tokens mentioned in this announcement will not be eligible for the feature.

Binance delists five cryptocurrencies

Air Peace slashes Nigeria-London fare by N600,000

Air Peace has announced a ₦600,000 reduction in its Nigeria-London airfare for all travelers flying from Nigeria.

In a statement released on Wednesday in Lagos, the airline’s Head of Corporate Communications, Dr. Ejike Ndiulo, stated that the discount is part of Air Peace’s latest promo offer.

Passengers departing from any Nigerian city to London can enjoy significant savings, along with an exclusive one-free extra luggage allowance.

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According to Ndiulo,  the airline rewarded five lucky winners of a raffle draw at the Silverbird Man of the Year  Awards held on Sunday in Lagos.

He said that three winners won return economy tickets to any of Air Peace’s domestic destinations, while two won economy return tickets to London.

He said that the Chairman/Chief Executive Officer of Air Peace, Dr Allen Onyema, emphasised the airline’s commitment to driving Nigeria’s socio-economic development through its corporate social responsibility initiatives.

Air Peace slashes Nigeria-London fare by N600,000

Fresh fuel price hike likely as Dangote refinery suspends petrol sale in naira

Petroleum products marketers have predicted a potential shake-up in the downstream sector as Dangote Refinery halts the sale of petrol in naira.

The marketers, while expressing shock over the development, said there are genuine concerns over supply chain disruptions and impending price hikes.

Stakeholders fear the ripple effects may deepen economic pressures on businesses and consumers nationwide.

Dangote Refinery, in a statement, said the move was necessary to avoid a mismatch between its sales proceeds and our crude oil purchase obligations, which are currently denominated in US dollars.

“To date, our sales of petroleum products in Naira have exceeded the value of naira-denominated crude we have received. As a result, we must temporarily adjust our sales currency to align with our crude procurement currency.

“Our attention has also been drawn to reports on the internet claiming that we are stopping loading due to an incident of ticketing fraud. This is malicious falsehood. Our systems are robust and we have had no fraud issues.

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“We remain committed to serving the Nigerian market efficiently and sustainably. As soon as we receive an allocation of naira-denominated crude cargoes from NNPC, we will promptly resume petroleum product sales in naira. We appreciate your understanding and cooperation during this period”, the company explained.

Commenting on the development, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Mr. Billy Gillis-Harry, expressed rude shock at the development, saying the decision by Dangote will impact petroleum products  availability, energy security and pricing.

He said the coming onboard of the Dangote Refinery has been able to stabilise the supply chain while guaranteeing access to product.

However, he warned the suspension of petroleum products into the sldomestic market by Dangote should not be an excuse for importers of products to profiteer by putting the country in a disadvantage condition.

He argued that PETROAN has been at the forefront of canvassing for multiple sources of products for the market, saying the entry of Dangote refinery into the downstream market was received with so much joy.

Gillis-Harry further lamented that the business decision of Dangote to sell his products in dollars has automatically shut out the local market from the business equation because domestic pricing and sales of petroleum products is in naira. On October 1, 2024, the federal government officially announced the commencement of crude oil sale to Dangote Refinery and other local refineries in the local currency.

The move was to reduce the pressure on the foreign reserves and ensure the stability of the local currency.

Fresh fuel price hike likely as Dangote refinery suspends petrol sale in naira