Corrupt Politicians Now Hide Loot in Cryptocurrencies – EFCC
13 Articles
13 Articles
An admin helped a third party set up a wallet for A-Coins and had access to passwords. He stole the virtual money but did not have to pay.
EFCC warns politicians hiding loot in crypto, flags rising digital fraud
Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has sounded a fresh warning about the growing use of cryptocurrency and digital assets by corrupt politicians to conceal stolen funds and bypass anti-corruption surveillance systems. Speaking in Kaduna on Thursday at an event marking the Africa Anti-Corruption Day, Olukoyede—represented by Bawa Usman Kaltungo, Acting Zonal Director of the EFCC Kaduna office—highl…
EFCC: Corrupt Politicians Now Launder Stolen Billions Through Cryptocurrency
Ola Olukoyede, EFCC Chairman In a revealing development that underscores the evolving face of financial crime, the Economic and Financial Crimes Commission (EFCC) has warned that corrupt Nigerian politicians are now stashing illicit wealth in cryptocurrencies to avoid detection and prosecution. EFCC Chairman Mr. Ola Olukoyede, speaking through the agency’s Acting Zonal Director in Ibadan, …
REGULATION | Nigerian Economic Watchdog, EFCC, Raises Alarm on Politicians Hiding Loot in Crypto, Warns of Rising Virtual Asset Scams in Nigeria
The Economic and Financial Crimes Commission (EFCC) of Nigeria has raised fresh concerns over the growing use of cryptocurrency by Nigerian politicians and high-profile individuals to conceal illicit funds. Speaking at a public forum during an event to mark Africa Anti-Corruption Day, EFCC Chairman, Ola Olukoyede, said illegal money flows are a revealed that are a major threat to Africa’s development, mainly because of money laundering and gro…
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