The Nigerian government has frozen over $37 million in cryptocurrency, allegedly linked to the organizers of the #EndBadGovernance protests. The Federal High Court in Abuja issued the order on July 9, following an application by the Economic and Financial Crimes Commission (EFCC). A copy of the court ruling was obtained by PREMIUM TIMES.
Judge Emeka Nwite granted the EFCC’s request in an ex parte application filed on August 8, which was heard the next day. The assets in question were described by the EFCC as proceeds of money laundering and terrorism financing. The hearing proceeded smoothly, without any objections, and involved a discussion between the judge and EFCC’s lawyer, O.S Ujam.
The court order froze the wallets in question, pending the conclusion of investigations. The largest wallet holds USDT37 million, with three smaller wallets containing USDT967, USDT90, and USDT443,512.37, respectively. The identities of the wallet owners were not disclosed in court documents, but sources indicate they are linked to the protest organizers.
The #EndBadGovernance protests, which took place across Nigeria from August 1 to 10, were in response to the rising cost of living and economic hardship. Security forces responded with a crackdown, targeting both peaceful protesters and those allegedly involved in crimes during the protests. Reports indicate that more than 20 protesters were killed by security forces, including incidents where live ammunition was fired at demonstrators and journalists.
The crackdown has also led to arrests, including those suspected of looting businesses during the protests. In Kano State, seven Polish citizens were detained for allegedly displaying Russian flags. The government’s actions echo those taken during the #EndSARS protests in 2020, when accounts linked to the movement were frozen under similar claims of terrorism financing.
During the #EndSARS protests, the Central Bank of Nigeria (CBN) froze 20 accounts for 90 days, alleging they were connected to terrorist activities. A court order supported the CBN’s actions, but the freezing order was eventually lifted after negotiations between the CBN and the defendants.
Prominent figures in the #EndSARS movement, such as Bolatito Oduala and Bassey Israel, were among those whose accounts were targeted during that time.
For more updates, join our WhatsApp channel: Click here.