According to PANews, a Nigerian court has frozen approximately $38 million in cryptocurrency, which authorities claim was used to support protests in the country. The Federal High Court in Abuja issued the order at the request of the Economic and Financial Crimes Commission (EFCC), targeting four wallets linked to the EndBadGovernance protest organizers.
The Nigerian government has tracked a total of $50 million in cryptocurrency donations allegedly used to fund protests against rising living costs. National Security Advisor Nuhu Ribadu confirmed that $38 million of these funds have been successfully frozen. In recent years, Nigeria has intensified its crackdown on cryptocurrency transactions, blaming them for contributing to the devaluation of the national currency, the naira.