The Economic and Financial Crimes Commission (EFCC) revealed on Thursday that some terrorists are using cryptocurrency traders in the country to fund terrorism, News About Nigeria reports.
The revelation was made by the chairman of the anti-graft agency, Ola Olukoyede, during an event organised by some civil society organisations in Abuja.
According to the EFCC boss, young Nigerian cryptocurrency traders are unaware of the fact that terrorists use their trade to fund terrorism.
He explained that some of the people who receive money to trade in cryptocurrencies do not know that their financiers are sponsors of terrorism.
The EFCC boss further disclosed that some of the 1,146 bank accounts recently frozen by the anti-graft agency were conduits for terrorism funding.
Speaking on the ongoing prosecution against Binance, the EFCC boss said that they discovered that the cryptocurrency trading platform is not alone, as there are other platforms that are also sponsoring terrorism.
He said, “Some of you are aware of our activities in the area of investigating virtual currency trading and the likes of cryptocurrencies. They are potential platforms to fund terrorism. A lot of us don’t understand that. Some of our discoveries during the investigation of some of these platforms were mind-boggling.
“We thought Binance was a major one. Yes, it was. We are prosecuting them. But there are other platforms we have discovered. They used some of these young men. Some of them don’t know that the people who gave them money to trade are people who fund terrorism.”
