EFCC Recovers $20 Million Worth of Cryptocurrency Loot
Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa has announced that the agency has recovered $20 million worth of cryptocurrency loot
Mr Bawa revealed that the crypto loot has been saved to the commission’s e-wallet
Mr Bawa also praised the CBN’s move to ban crypto assets in the country, saying that it limits avenue for illegal transactions
The Economic and Financial Crimes Commission (EFCC) has announced the recovery of $20 worth of cryptocurrency loot.
The chairman of the anti-graft agency Abdulrasheed Bawa announced this on Channels Television’s ‘Sunrise Daily.
The recovered cryptocurrencies comprise funds that were looted by fraudsters and they have been saved to the commission’s wallet.
Mr Bawa also supported the CBN’s decision to ban the exchange of cryptocurrency in Nigeria.
While speaking on Tuesday, claimed that the ban limits avenue for illegal transfer of money in the country.
Mr Bawa claimed that cybercriminal who have scammed their victims collect the proceeds through cryptocurrency.
While Nigeria has limited the use of cryptocurrencies, other countries have embraced including El Salvador.