As a researcher with a background in financial crimes and terrorism funding, I find Olukoyede’s revelation both alarming and intriguing. The fact that young Nigerian crypto traders are unknowingly funding terrorism through their trading activities is a significant finding that warrants further investigation.
As a crypto investor, I’ve come across concerning news. Ola Olukoyede, the head of Nigeria’s Economic and Financial Crimes Commission (EFCC), has shared insights that terrorists are using cunning tactics to deceive young Nigerian crypto traders. They’re reportedly luring these traders into unwittingly financing their illicit activities by involving them in seemingly legitimate crypto transactions. Stay vigilant, fellow investors!
During a talk at a civil society gathering in Abuja, Olukoyede disclosed that some cryptocurrency dealers unknowingly finance terrorism. At the “National Dialogue on Preventing Terrorism Financing and Extremism,” he explained that those compensated for dealing in cryptocurrencies were unaware that their clients were backing terrorists.
This month, over 1,100 bank accounts have been temporarily blocked during ongoing probes into their involvement in financing terrorist activities, as reported by Olukoyede.
He highlighted Binance among other investigated platforms, remarking, “We are pursuing legal action against them. However, we’ve uncovered additional platforms. Some of these young men were employed by them unwittingly. The financiers of their trading activities are reportedly linked to terrorist funding.”
To monitor funds linked to terrorism, the EFCC chairman emphasized the necessity of utilizing modern technology. He also shared a tale of a conversation with an FBI officer, who claimed that they could trace every single US Dollar ever printed through sophisticated technology.
Olukoyede emphasized that for Nigeria to thrive, it is essential that the country adopts effective strategies similar to those that have led to success in other areas. Specifically, he highlighted the importance of collectively addressing corruption as a key step towards achieving economic growth.
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2024-05-18 07:00