The discrepancies between the government’s claims and the blockchain data highlight a tense dynamic between digital finance and state authorities.
Despite the Nigerian government’s claim of blocking significant funds tied to sponsors of the #EndBadGovernance protests, some cryptocurrency wallets linked to the movement remain active.
Nuhu Ribadu, the National Security Adviser (NSA), announced during a Council of State meeting convened by President Bola Tinubu at the Aso Rock Villa in Abuja on Aug. 13 that the government had blocked 83 billion naira ($52 million) in cryptocurrencies and fiat traced to the protest sponsors.
This includes $50 million in cryptocurrency, $38 million supposedly frozen in four wallets, and N4 billion allegedly contributed by political actors from Abuja, Kano, Kaduna, and Katsina.
