NewStats: 3,261,970 , 8,175,703 topics. Date: Saturday, 31 May 2025 at 10:20 AM 42706s

Abdulrasheed Bawa, chairman of the Economic and Financial Crimes Commission (EFCC), says the commission has recovered $20million worth of cryptocurrency from cybercriminals.

He said the commission sees cryptocurrency as an “avenue where criminals launder proceeds of crime”.

He said this on Sunrise Daily, a Channels Television programme, on Tuesday.

The Central Bank of Nigeria (CBN) had issued a directive that banks should close s of persons or entities involved in cryptocurrency transactions within their systems.

“As it is today, there is nowhere in the world where cryptocurrency is being regulated. The EFCC is looking at cryptocurrency as an avenue where people are laundering their proceeds of crime,” he said.

“Where people are receiving proceeds of crime and that is our worry. We have seen again and again how cybercriminals are using it as an avenue to get their proceeds of crime.

“Before, it used to be through money transfer agencies like Money Gram and Western Union. Now they have gone E.

“They will defraud somebody and get gift cards, and exchange in dark webs, and use the proceeds to buy crypto. And then of course get it into their e-wallets and they can sell and get their money.”

[b]“As it is now today, we have about $20 million worth of cryptocurrency because we also created our own crypto wallet to recover cryptocurrency. We are now recovering the proceeds of crime.[/b]

“We are in of what the CBN has done because it has reduced the ease for which these criminals can get cryptocurrency and get naira for it.

“I believe we will not be left behind when it comes to ensuring that laws and regulations are put in place to checkmate the excesses of cryptocurrency.”

Bawa said within January to June 3, 2021, 1,436 suspected cybercriminals have been arrested across the country.

“From January to June, according to the statistics, the EFCC has arrested 1436 suspected cybercriminals across the federation,” he said .

https://www.thecable.ng/bawa-efcc-has-recovered-20m-worth-of-cryptocurrency-from-fraudsters

To be looted by themselves again the will use it to buy porch cars and etc within themselves nobi naija EFCC again know who go come investigate them naw none

I see why magu had 7 oil laden ships amongst other loots.

Efcc is one lucrative job.

Then where is it?

And how did he know that such investments are all proceeds of fraud ?

Sakamaje

How are they gonna share the money??

$20 million. Meaning the value might still change.

In as much as I hate and dislike Yahoo,I still think it has created alot of jobs to the youths more than our useless FG wey only know how to steal and loot....

As for una wey depend on only Yahoo as a source of living,I pray you shouldn't fall victims of whatever magnitude of agony you've caused your victims...

This people think say Nigerians are stupid. They will just call one random figure and append Billions and Millions.

We only hear they recover the rest na sharing,
Theif collecting from theif

B

Including AGF Malami's crypto?

Please how can i apply to work for efcc??

Seems this government agency pays a lot from the back door.

Hmm... to those trading in cryptocurrencies, make sure you are trading something you do not mind losing. I still don't get the fundamentals.

Buhari is a woman with a Dick! Damn it, He sucks!

By the way, you know that gender that I was talking about, they are dumb ass bitches...
Fucking irritating creatures with no sense at all!
Either stay out of their way or you fùck em real hard like a Cholo!
This is what the white guys are doing to them, because they know that they ain't worth the effort!
Damn it!

Nonsense

Lol

Attorney general of the federation. How is work and business?

Recovered just to be re-looted by the cabal

Lol

Nigeria government and copycat.

I once asked this question..


What does EFCC do with recovered stolen funds?

For example now. There’s $20m in EFCC crypto wallet. What are they intending to do with it?

Why not take out $5m and distribute to all the motherless babies home across the nation?

Hugged:


https://www.thecable.ng/bawa-efcc-has-recovered-20m-worth-of-cryptocurrency-from-fraudsters

Bawa the

Chronic itibolibo


Haff recovered 20m$ worth of cryptocurrency

See gobe

E be like say na wetin dey malami crypto wallet.


Liars wey dey option innocent citizens just because them get wallet for phone.
Any youth that is into crypto or forex is into fraud, according to this useless government.

Seen and noted