The Federal Government has reportedly blocked ₦83 billion in cryptocurrency and fiat money linked to the recent #EndBadGovernance protests.
During a Council of State meeting convened by President Bola Tinubu on August 13, 2024, National Security Adviser (NSA) Nuhu Ribadu disclosed that the funds include $50 million in cryptocurrency and ₦4 billion allegedly contributed by political actors from Abuja, Kano, Kaduna, and Katsina.
Ribadu revealed that a significant portion of the cryptocurrency, around $38 million, has been successfully blocked. He also identified a European national as the mastermind behind the display of Russian flags during protests in Kaduna and Kano states. The individual is expected to be declared wanted by the police soon. Additionally, several local conspirators have been arrested in connection with the protests.
Following the meeting, Dele Alake, the Minister of Solid Minerals, described the protests as an attempt to undermine the government. He emphasized that any change in government should only occur through democratic elections, urging those dissatisfied with President Tinubu’s administration to wait until the 2027 elections. Alake reassured the public that security agencies are committed to protecting the country and its democracy.