The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede has disclosed that unsuspecting role of young cryptocurrency traders in Nigeria are funding terrorism.
Speaking at a national dialogue on preventing terrorism financing and violent extremism, organized by civil society organizations in Abuja, Olukoyede disclosed that some individuals who received funds to trade in cryptocurrencies were unaware that their financiers were actually sponsors of terrorism.
The EFCC Boss revealed that some of the 1,146 bank accounts recently frozen by the agency were used as channels for terrorism funding.
According to him, cryptocurrencies and virtual currency trading platforms have become potential tools for funding terrorism, and many people are unaware of this risk.
ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!
READ ALSO: Man Loses His Entire ‘$500,000’ Savings In Cryptocurrency After Trader Died With Password
Olukoyede shared some startling discoveries made during the investigation of these platforms, including the involvement of unsuspecting young men who were used to trade cryptocurrencies without knowing that their financiers were linked to terrorism.
He stressed the need for Nigeria to adopt technology to track money used to fund terrorism, citing an example from the US Federal Bureau of Investigation (FBI).
The EFCC Boss recounted a conversation with an FBI assistant director who informed him that dollar bills worldwide can be tracked using technology.
He advised that Nigeria must also develop the capability to deploy technology to track naira notes used for terrorism funding.
