The Federal Government has traced at least N83 billion in cryptocurrency and fiat money channeled towards the recent nationwide protest.
They include $50m of cryptocurrency — $38m of which were blocked in four cryptocurrency wallets — and N4bn contributed by various political actors in Abuja, Kano, Kaduna and Katsina.
This was part of a presentation by the National Security Adviser, Nuhu Ribadu, at the inaugural meeting of the Council of State convened by President Bola Tinubu at the Aso Rock Villa, Abuja.
According to multiple sources with knowledge of Tuesday’s meeting proceedings, Ribadu, who presented on the topic ‘The Nationwide Protest As It Affects National Security,’ also revealed that an European has been identified as the mastermind of the proliferation of foreign flags during the protests and will soon be declared wanted by the Police.
One of the sources, who spoke on condition of anonymity because he was not authorized to speak on the matter, disclosed that local conspirators traced to capital city Abuja, Kaduna and Kano have been arrested.
“In his presentation, the NSA said the government was able to trace $50m to crypto wallets that were made as donations to the protests. They succeeded in blocking four of those wallets containing $38m.
“They also found out that some political actors contributed N4bn to fund the protests,” one of the sources said.
The President Tinubu convened the Council of State meeting to discuss, among other matters, the recent #EndBadGovernance protests, national security, the economy and food security.
The Council comprises the President (who serves as its chairman), the Vice President, all former Presidents and Heads of State, all former Chief Justices of Nigeria, the Senate President, the Speaker of the House of Representatives, the Attorney-General of the Federation, the Secretary to the Government of The Federation and all state governors.
Former Presidents Goodluck Jonathan and Muhamamdu Buhari attended the inaugural Council meeting, while former Heads of State, General Yakubu Gowon (retd.) and General Abdulsalami Abubakar (retd.), joined virtually alongside governors of Abia, Adamawa and Akwa Ibom State.
Obasanjo, IBB absent
However, former President Olusegun Obasanjo and former Head of State General Ibrahim Babangida (retd.) did not attend the meeting.
Tuesday’s gathering came days after Nigerians, mostly youths, hit the roads in Abuja for a one-million-man march. The march, which climaxed with a low turnout, marked the 10th day of the nationwide protest against the rising cost of living in the country.
On August 1, the opening day of the nationwide protest, demonstrations declined into destruction of property and loss of lives, especially in the North, leading to at least 17 reported deaths during the “days of rage.”
On August 3, just two days into the demonstrations, viral photos and videos showed demonstrators waving the flags in Kano State and chanting in Hausa, “We don’t want bad government.”
In Kaduna, a state in the north west, protesters were also seen waving the Russian flag and reciting in Hausa, “Welcome, Russia; Welcome, Russia.” Russia, an Eastern power which is currently mired in a proxy war with the West, has been blamed for several unconstitutional changes of government in West African countries such as Niger, Mali and Burkina Faso, among others.
The Nigerian military said the use of Russian flags during the protests was a treasonable offence, adding that it was investigating those behind the move and would “take serious action” against them.
While addressing the nation in a broadcast on August 4, President Tinubu warned demonstrators not to “let the enemies of democracy use you to promote an unconstitutional agenda that will set us back on our democratic journey.”