FG Freezes $37 Million Worth of Cryptocurrency Linked to #EndBadGovernance Protest Organizers
In a significant development, the Nigerian government has frozen more than $37 million worth of cryptocurrency believed to be owned by some organizers of the #EndBadGovernance protests. The action was reportedly taken following an order from the Federal High Court in Abuja, with the court ruling issued by Judge Emeka Nwite on July 9, as per a copy of the decision reviewed by Premium Times.
The Economic and Financial Crimes Commission (EFCC) filed the ex parte application on August 8, with the court hearing the application the following day. In the submission to the court, the EFCC categorized the assets as "proceeds of money laundering and terrorism financing."
During the hearing, which was more of an exchange of views between Judge Nwite and EFCC's lawyer, O.S. Ujam, there was no recorded objection to the application. The judge subsequently issued the order to freeze the assets, marking a significant escalation in the government's crackdown on protest activities in the country.
This development follows the widespread #EndBadGovernance protests, which saw thousands of Nigerians take to the streets to demand an end to corruption and better governance. The protests were a continuation of the #EndSARS movement, which initially started as a call to disband the notorious Special Anti-Robbery Squad (SARS) but evolved into a broader demand for government accountability and transparency.
The freezing of cryptocurrency assets is a controversial step by the government, highlighting the ongoing tension between authorities and activists. This move also raises questions about the government's commitment to democratic principles, especially concerning the right to protest and freedom of expression.
It remains to be seen how this action will affect the dynamics of protests and civil rights in Nigeria, as well as the future use of cryptocurrency by activists as a tool for mobilization and fundraising.
As the story continues to develop, RantHq will keep you updated on the latest information regarding this case and its implications for the broader struggle for good governance in Nigeria.
Image Credit:Premium Times
Source:[Premium Times](https://www.premiumtimesng.com)