 (14th August 2024) The Federal Government has traced at least N83 billion in cryptocurrency and fiat money channelled towards the recent nationwide protests. |
They include $50m of cryptocurrency — $38m of which were blocked in four cryptocurrency wallets — and N4bn contributed by various political actors in Abuja, Kano, Kaduna and Katsina.
This was part of a presentation by the National Security Adviser, Nuhu Ribadu, at the inaugural meeting of the Council of State convened by President Bola Tinubu at the Aso Rock Villa, Abuja.
In his presentation, the NSA said the government was able to trace $50m to crypto wallets that were made as donations to the protests. They succeeded in blocking four of those wallets containing $38m.
“They also found out that some political actors contributed N4bn to fund the protests,”
The followings are brief highlights:
1. Blocked Funds: The Federal Government traced and blocked at least *N83 billion* funds in the following denominations: including:$50 million in cryptocurrency with $38 million blocked in four crypto wallets and N4 billion in fiat money.
2. Arrests: Several political collaborators in Abuja, Kano, Kaduna, and Katsina were arrested.
3. Council of State Meeting: The information was presented by the National Security Adviser, Nuhu Ribadu, during the inaugural Council of State meeting convened by President Bola Tinubu.
4. Foreign Involvement: An identified European mastermind behind the proliferation of foreign flags during the protests will soon be declared wanted by the Police.
5. Protests: The protests, which included a one-million-man march in Abuja, were against the rising cost of living and resulted in property destruction and loss of lives, especially in the North.
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Sources:
(1) FG blocks N83bn protest funds, arrests political collaborators.
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