Youths trading cryptocurrencies are used to fund t£rrorism — EFCC chairman

Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has said some youths who trade in cryptocurrencies do not know that they are being used to fund t£rrorism in Nigeria.

Speaking at an event on Wednesday, the EFCC chair said, “some of the people who receive money to trade in cryptocurrencies do not know that their financiers are sponsors of t£rrorism.

He revealed that some of the 1,146 bank accounts recently frozen by the anti-graft agency were conduits for t£rrorism funding.

According to him, “Some of you are aware of our activities in the area of investigating virtual currency trading and the likes of cryptocurrencies.

They are potential platforms to fund t£rrorism. A lot of us don’t understand that. Some of our discoveries during investigation of some of these platforms were mind boggling.

We thought Binance was a major one. Yes, it was. We are prosecuting them. But there are other platforms we have discovered.

They used some of these young men. Some of them don’t know that the people who gave them money to trade are people who fund t£rrorism.”