According to ChainCatcher, the Nigerian government has filed criminal charges against four individuals and several companies, accusing them of illegally conducting crypto transactions without holding a banking license, including exchanging USDT for naira.
The four defendants, identified as Ejiogu A. Chinedu, Nnamdi F. Okereke, Oty Ugochukwu Stanley and Chukwuebuka F. Ogumba, were charged with violating the Banks and Other Financial Institutions Act and the Foreign Exchange Act.
The case stems from an investigation by Nigeria’s Economic and Financial Crimes Commission (EFCC) into alleged manipulation of the naira exchange rate and money laundering through virtual cryptocurrency trading platforms.
Earlier news, Nigeria's Economic and Financial Crimes Commission (EFCC) has obtained court approval to freeze more than $330,000 in suspicious funds deposited in cryptocurrency users' bank accounts.
