Cryptocurrency used to fund #EndSAR protest-ICPC

The Independent Corrupt Practices and Other Related Commission, ICPC says the #EndSARS protest was largely financed by cryptocurrenc.

Chairman ICPC, Bolaji Owasanoye said that, there are strong indications that it could be used to fund Insurgency while speaking on Tuesday in Abuja during an interactive session with Senator Uba Sani, All Progressives Congress, APC, Kaduna Central led Senate Joint Committee on Banking, ICT, Cybercrime and Capital Market on the decision of the Central Bank of Nigeria to ban Cryptocurrency in Nigeria Chairman, Independent).

Bolaji Owasanoye further explained that Cryptocurrency lends itself to money laundering and terrorism financing.

Meanwhile, the Nigerian Financial Intelligence Unit ,NFIU, has said that his agency averted a $3million fraud linked to twenty bank accounts.

Speaking further, the ICPC boss noted that the anti-graft agency currently has a number of cases linked to Cryptocurrency but is unable to track the suspects.

According to the ICPC Chairman, the CBN as a regulator has responsibility to ensure sound financial stability; it will be difficult to achieve in the case of Cryptocurrencies where the role players are unknown, just as he warned that the Lawmakers to as a matter of urgency, take decisive action against Cryptocurrencies, sharing with them the experience of the Indian Supreme Co

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