FG Cracks Down On Protest Funding: ₦83 Billion Seized, Political Collaborators Arrested

FG Cracks Down On Protest Funding: ₦83 Billion Seized, Political Collaborators Arrested

The Federal Government has reportedly traced ₦83 billion in funds, both in cryptocurrency and fiat money, that were allegedly used to support recent nationwide protests.

During the inaugural meeting of the Council of State, held at Aso Rock Villa in Abuja, National Security Adviser Nuhu Ribadu disclosed this information in a presentation titled “The Nationwide Protest As It Affects National Security.” The meeting was convened by President Bola Tinubu and was attended by former presidents, state governors, and other key national figures.

According to Ribadu, the funds included $50 million in cryptocurrency, of which $38 million has already been blocked across four wallets. Additionally, ₦4 billion in fiat money was reportedly contributed by political actors in Abuja, Kano, Kaduna, and Katsina.

The presentation also revealed the involvement of a European national, identified as the mastermind behind the presence of foreign flags during the protests. This individual is expected to be declared wanted by the Nigerian Police.

Multiple sources familiar with the meeting’s proceedings indicated that local conspirators in Abuja, Kaduna, and Kano have already been arrested. The sources added that the security agencies are actively pursuing the foreign national involved.

One source, speaking anonymously, said, “The NSA informed the Council that there was foreign interference in the protests. A foreign agent connected to it will soon be declared wanted by the police, while his Nigerian collaborators, most of whom have been arrested, are in custody.”

The Council of State meeting emphasized the national security implications of the protests, with Ribadu also confirming that eight people lost their lives during the unrest.

This crackdown by the Federal Government highlights its ongoing efforts to quell civil unrest and address the sources of funding behind such movements. The arrests and investigations are expected to continue as authorities work to prevent further disruptions.