President Bola Tinubu’s administration appears to be hell-bent on making sure that the nationwide hunger protests doesn’t happen again as it has reportedly frozen more than $37 million worth of cryptocurrency held in wallets believed to be owned by some organisers of #EndBadGovernance protests.
The freezing of the wallets Newsband gathered followed an order granted by Justice Emeka Nwite of the Federal High Court in Abuja on August 9.
Justice Nwite issued the order following an application lodged by the Economic and Financial Crimes Commission (EFCC).
The action was brought to the court ex parte on August 8 and heard by the court the next day.
The anti-graft agency called the assets ‘proceeds of money laundering and terrorism financing’.
Since the other party was not there, the proceedings were like an exchange of views between the judge and EFCC’s lawyer, O.S Ujam.
The wallet with the biggest assets has USDT37 million (USDT37,061,867,869.3) cryptocurrency, which equals the exact value in American US dollars.
The other three wallets have USDT90, USDT967 and USDT443,512.37, respectively.
The identities of the wallet owners in the application were not revealed but the federal government, however, linked them to suspected organisers of the #EndBadGovernance protests.
