FG freezes $37m worth of cryptocurrency traced to suspected nationwide protest organizers.

The Nigerian government has frozen more than $37 million worth of cryptocurrency held in wallets believed to be owned by some organisers of End Bad Governance protests.

The freezing followed an order by the Federal High Court in Abuja. The judge, Emeka Nwite, gave the order in a ruling delivered on 9 July, a copy of the decision seen on Tuesday shows. Mr Nwite issued the order based on an application by the Economic and Financial Crimes Commission (EFCC).

In the ex parte application filed on 8 August and heard by the court on the following day, the EFCC described the assets as proceeds of money laundering and terrorism financing.

There was no objection to the application during the hearing, which was an exchange of views between the judge and EFCC’s lawyer, O.S Ujam.