Who said anything about banning it? You can read the full statement here. As I said, this is about bigots co-opting the word to say bigoted shit, taking into account the nuance of how a word can be used or misused. Literally no one other than propagandists are talking about Meta “banning” the word.

We do not allow content that attacks people on the basis of protected characteristics such as nationality, race, or religion, among others. We do allow people to criticize adherents of political affiliations and ideologies.